How to Apply for Income-driven Repayment – Great Lakes

Income-driven Repayment – What Is It? How Do I Get It?

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Federal Student Aid has announced an account alteration that will bring borrowers closer to forgiveness under income-driven repayment ( IDR ) plans. Find out whether you could benefit from changes that will take impression in precipitate 2022 .

What Is It?

Income-driven refund ( IDR ) plans make it easier for federal student loanword borrowers to pay back loans if your debt is high compared to your income. They ‘re based on your income, syndicate size, the country you live in, and federal scholar lend type .
The main plans are Income-Based Repayment ( IBR ), Pay As You Earn ( PAYE ), Revised Pay As You Earn ( REPAYE ), and Income-Contingent Repayment ( ICR ). In general, here ‘s how they work .

  • You need to complete the Income-Driven Repayment Plan Request on and provide specific information to qualify.
  • Each year you’ll need to recertify, in order to remain eligible for the lowest possible monthly payment amount.
    As your income, family size, or state of residence change, so will your monthly payment amount.
  • Your exact plan varies based on your loan types and specific situation. If you recertify each year and qualify, you may
    have reduced monthly payments for up to 25 years. Any remaining balance may be forgiven.
  • Because income-driven repayment plans generally extend the payment period,
    you may pay more interest over the life of your loan.

Looking for specific plan information? Review the details of each IDR design.

Keep in mind that your income-driven refund application will not be processed if you ‘re distillery in school more than half-time .

What Do I Gather Before Applying?

There are a few things to gather before you complete the Income-Driven Repayment Plan Request. In this department, we ‘ll share what those things are and tell you the process for making the request. In the Apply nowadays ! section, we ‘ll get you started on the request itself .

Here’s What You’ll Need

Federal Student Aid ID or Verified Email or Phone Number

Use your FSA ID or verified Email address or Phone Number to sign into the web site and start your income-Driven repayment design Request. If you do n’t have a FSA ID, blue-ribbon Create Account at You can besides check out our FAQs for troubleshooting FSA ID problems .

Personal Information

Your address, electronic mail address, and telephone issue .

Spouse Information (if you’re married)

Your spouse will besides need to sign the electronic application unless you are separated or can not reasonably access your spouse ‘s income .

Income Information

once you ‘ve started your Income-Driven refund plan Request on-line, you ‘ll be linked to the IRS Data Retrieval Tool. It’s the easiest way to access and transfer your IRS tax return information. Using the on-line instrument helps ensure your information is arrant and that action will be timely .
once you ‘re on the IRS web site, you ‘ll be asked to enter personal data to display your IRS tax restitution information. You ‘ll then be able to easily transfer your information from the IRS site and render to your Income-Driven refund plan Request on the locate .

  • If your income is significantly different from your most recently filed tax retort, after completing the electronic application, you ‘re required to provide Great Lakes with proof of your stream date crying income ( before taxes ). Income proof needs to be from all sources ( for example, wages, unemployment, dividend income, matter to income, tips, alimony, and so forth ). satisfactory documents include a wage stub or a sign letter from your employer ( s ) on company letterhead. Documents must be dated in the death 90 days and include the follow :

    • Your first and last names along with your SSN or account number.
    • The length of the pay period and total number of hours worked.

    Do not report untaxed income such as Supplemental Security Income, child support, or federal and state public assistance.

  • If you decide to complete the paper Income-Driven Repayment Plan Request,
    you’ll need to provide a copy of your most recent federal tax return or the items noted previously on this page.

Documentation Help for Single Borrowers

Documentation Help for Married Borrowers

Apply Now!

The best means to apply is on-line at because it ‘s faster, easier, and helps ensure your information is complete and that the process will be seasonably.

  • 1 of 4Select stage
  • 2 of 4Review degree
  • 3 of 4Next Steps phase
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  • 4 of stage
  • The first step is to log into your account and
    start at Repayment Options. You can compare plans and will be asked
    to select the loans for which you want to change repayment plans.
  • Then, we’ll link you to so you can complete your Income-Driven Repayment Plan Request.
    Or, if you must submit a paper request, you’ll be asked to download the Income-Driven Repayment Plan Request, complete it, and submit it to us.

Make surely you ‘ve gathered all of the information you ‘ll need to apply .
once you start the request, the process takes about 30 minutes and must be completed in one school term .

Application Guide

go to Repayment Options

Why Must I Recertify Every Year and Submit New Documentation?

monthly payments under an income-driven repayment plan are based on your adjusted crude income ( AGI ), class size, and the state you live in. Since these items can change, your payments will change along with them. Each year you ‘re required to recertify sol your monthly requital amount can be recalculated. If you do n’t recertify, your payment may increase and any unpaid sake will be capitalized, or added to your principal balance .
You can besides request to have your monthly requital sum recalculated if your fiscal circumstances drastically change before your annual recertification date. To get started, see What Do I Gather Before Applying ?. If you still have extra questions, our Income-Driven Repayment section in FAQs can help .

Free Expert Help!

You do n’t have to pay for scholar lend services or advice. Our adept representatives have access to your latest scholar loan information and understand all of your options. Learn more about the detached services available to you.

Get in Touch

Have a social history and have a interview ? Send us a message. We ‘re here to help. You can chat with us a few ways :

  • Facebook
  • Facebook Messenger
  • Twitter

You can besides log in or visit our Contact Us page to contact a representative .

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