 TITLE: What Is Income-Based Repayment? CONTENT: Alternatives to Income-Based Repayment\n--------------------------------------\nThe federal government offers four income-driven repayment plans in total, so it's important to consider all of them to make sure you find the right fit.\nThe other available plans include:\n*   **Pay As You Earn (PAYE)**: With this plan, your payment will be 10% of your discretionary income and will never be higher than your payment on the standard 10-year plan. Your repayment term will be extended to 20 years. Only borrowers who provide evidence of financial need are eligible for this plan.\n*   **Revised Pay As You Earn (REPAYE)**: Under this plan, your payment will be 10% of your discretionary income, and your repayment term will be 20 years for undergraduate loans and 25 years for graduate and professional loans. There's no cap on what your payment can be, so it may end up higher than your current one. Anyone with an eligible loan can get on a REPAYE plan.\n*   **Income-Contingent Repayment (ICR)**: This plan is the only one that's available to all federal loan borrowers, including parents. Your repayment term will be 25 years, and your monthly payment will be the lesser of 20% of your discretionary income (this time based on 100% of the federal poverty guideline), or what you would pay on a 12-year repayment term, adjusted according to your income.\nConsider consulting with your loan servicer to help determine which plan is the right fit for you and your situation. END