Income-Based Repayment Schedule

Available for payments made on or after July 1, 2009

An adjusted payment amount based on income and family size

Payment will not be more than 15 percent of the amount by which
your adjusted gross income exceeds 150 percent of the poverty
line for your family size

If the monthly payment amount is not enough to pay accrued
interest on a subsidized Federal Stafford Loan (or the subsidized
portion of a Federal Consolidation Loan), the Department of
Education will pay the remaining interest for a period of three
years.

Eligibility re-evaluated annually

More interest may accrue over the life of the loan because the
principal balance decreases at a slower rate.

Any outstanding loan balance after 25 years will be forgiven
Very few borrowers will have a remaining balance after 25 years.
The amount that is forgiven may be taxable.