Federal Loan Repayment Plans At A Glance, 2023-2024

Explore the 2023-2024 federal balance-driven and income driven federal loan repayment plans:

Balance-driven plans set your monthly payment based on your total student loan debt, interest rate, and a term length of either 10 or 25 years. You do not have to certify your income each year with your loan servicer to use these plans.

Income-driven repayment plans set your monthly payments based on your discretionary income, which your loan servicer calculates when you submit the Income-Driven Plan (IDR) Plan Request at StudentAid.gov/IDR each year.