Press Release/Statement | June 30, 2009

New Federal Income-Based Repayment Plan Goes Into Effect July 1

Income-Based Repayment (IBR), a new federal program that caps monthly student loan payments based on a borrower’s income and family size, goes into effect on July 1. The application for this program, along with more information about eligibility, is now available on the U.S. Department of Education’s web site, and from several major lenders.

Read the alert