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Get (ibr), And Income-contingent (icr) Repayment Plans Under The William D - Aessuccess
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How to fill out the IBR and Income-Contingent Repayment Plans under the William D. Ford Federal Direct Loan Program online
This guide provides a clear, step-by-step approach for users on how to fill out the Income-Driven Repayment Plan Request form for IBR and Income-Contingent Repayment plans. It aims to support users in completing the form correctly, ensuring they can benefit from the repayment plans available under the William D. Ford Federal Direct Loan Program.
Follow the steps to successfully complete your application.
- Click the ‘Get Form’ button to retrieve the Income-Driven Repayment Plan Request form and access it for completion.
- Fill out Section 1: Borrower Identification. Provide your Social Security Number, name, address, and contact information, ensuring all details are accurate. Check the box if any information has changed.
- In Section 2, select your reason for submitting the form. Choose from options provided, such as wanting to enter an income-driven repayment plan or change existing plans.
- Indicate whether you have multiple loan holders and if you are in a deferment or forbearance. Respond to the options accurately as this determines the next steps in the process.
- Section 3 asks for family size information. Specify the number of children and other dependents receiving support from you, as this will affect your repayment calculations.
- Complete Sections 4A and 4B, which gather income information based on your tax return for single or married borrowers. Provide details about your total income and any changes since your last tax return.
- If required, provide current income documentation in Section 5. This includes pay stubs or letters from employers, following the instructions carefully to ensure all required documentation is submitted.
- In Section 6, review the borrower requests, understandings, authorization, and certification. Sign and date the form, confirming that all information provided is accurate and complete.
- Return the completed form, along with any necessary documentation, to the address provided in Section 7. Ensure you keep a copy of your submission for your records.
Complete your Income-Driven Repayment Plan Request form online today to secure your repayment plan benefits.
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The Income-Contingent Repayment (ICR) Plan is a repayment plan with monthly payments that are the lesser of (1) what you would pay on a repayment plan with a fixed monthly payment over 12 years, adjusted based on your income or (2) 20% of your discretionary income, divided by 12.
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