How long will I be in repayment under an Income-Driven Repayment plan?
If your balance is not repaid in full after making the equivalent of 20 or 25 years of qualifying monthly payments and at least 20 or 25 years have elapsed, any remaining debt will be eligible for forgiveness.
Note: The Department of Education (ED) is conducting a one-time adjustment of payment counts toward Income-Driven Repayment and Public Service Loan Forgiveness programs. For more information, visit StudentAid.gov/idradjustment.
Income-driven repayment plans have different repayment periods, as indicated in the chart below.
|Income-Driven Repayment Plan
||20 years if all loans you’re repaying under the plan were received for undergraduate study
25 years if any loans you’re repaying under the plan were received for graduate or professional study
||20 years if you’re a new borrower on or after July 1, 2014
25 years if you’re not a new borrower on or after July 1, 2014