This module explains the Income Contingent Repayment (ICR) plan, its origins, functions, guidelines, and how it may help clients in selected circumstances. First available in 1994, it has been modified numerous times since then.
Qualifications for ICR are based on having eligible loans
The creation of ‘discretionary income’ as a way to determine student loan payments
ICR plans set for 12-month intervals
No maximum payment caps so the amount paid could exceed standard term loans.
Payment determination based on marital status
Forms, Documents, Articles
Resource library contains related forms and documents