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Income Contingent Repayment Plan

Income Contingent Repayment Plan

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.

Topic Features

  1. Qualifications for ICR are based on having eligible loans
  2. The creation of ‘discretionary income’ as a way to determine student loan payments
  3. ICR plans set for 12-month intervals
  4. No maximum payment caps so the amount paid could exceed standard term loans. 
  5. Recertification requirements
  6. Payment determination based on marital status
income contingent payment

Forms, Documents, Articles

  • Resource library contains related forms and documents