In its guidance for former SAVE Plan borrowers, Federal Student Aid lists how each plan sets the monthly payment. Income-Based Repayment is 15% of discretionary income (10% for new borrowers, whose first loan was made on or after July 1, 2014), never more than the 10-year Standard payment, over 25 years (20 for new borrowers). Pay As You Earn is 10% of discretionary income over 20 years. Income-Contingent Repayment is the lesser of 20% of discretionary income or a 12-year fixed payment adjusted for income, over 25 years. PAYE and ICR end no later than July 1, 2028.
The Repayment Assistance Plan is 1% to 10% of adjusted gross income divided by 12, reduced by $50 for each dependent claimed, with a $10 monthly minimum and a 30-year period. It is open to Direct Loans disbursed at any time. On-time RAP payers get an interest subsidy if payments do not cover accrued interest and may receive a matching principal payment.
For loans disbursed before July 1, 2026, fixed options are Standard, Graduated and Extended. The Tiered Standard Plan, for newer loans, runs 10 years for balances under $25,000, 15 under $50,000, 20 under $100,000 and 25 above $100,000. Parent PLUS loans are not eligible for IBR, ICR, PAYE or RAP on their own, and some loan types qualify only after consolidation.
Federal Student Aid warns that a lower payment over a longer period can mean more interest and a later discharge date, and it offers a Repayment Calculator for personal estimates.