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What is an Eligible Payment Plan?

An eligible repayment plan is any one of, or combination of, the following plans:

  • 10 year standard repayment
  • Income-based repayment
  • Pay As You Earn
  • Revised Pay As You Earn
  • Income-contingent repayment
    • This is the only income driven plan Parent PLUS borrowers can use. Parent PLUS borrowers can only access this plan if they first consolidate at, even if they already have Direct Loans.
  • Does not have to be the same plan for all 120 payments
  • These plans only count if the payments are made on Direct Loans, while the borrower is working for an eligible employer