New REPAYE Plan for ALL Direct Loan Borrowers Coming Next Month | Other News

REPAYE: New 10% Plan for ALL Direct Student Loan Borrowers Goes Online Next Month

The U.S. Department of Education has issued final regulations creating a new income-driven repayment (IDR) plan. Called Revised Pay As You Earn (REPAYE), it improves on existing plans in key ways. When REPAYE becomes available in mid-December, all borrowers with federal Direct student loans will be able to cap their monthly payments at 10% of their discretionary income, regardless of when they borrowed or their debt-to-income ratio. REPAYE also limits interest accrual for borrowers with low income relative to their debt, treats married borrowers more equitably, and better targets benefits so that higher income borrowers pay the same share of their income as lower income borrowers.

Borrowers with only undergraduate debt will become eligible for forgiveness after 20 years of payments, but REPAYE requires those with any graduate school debt to pay for 25 years on all their loans.  Many of you joined TICAS and more than 2,400 concerned individuals and organizations

in urging that payments be limited to 20 years for all borrowers.  There’s bipartisan interest in streamlining multiple IDR plans, and this time-limit is something Congress can and should fix when it creates one improved plan.

View our simple summary chart of the 5 income-driven repayment plans, including REPAYE
Read our press release on REPAYE


Our 10th Annual Report on Debt at Gradation Released at “A Decade of Student Debt”

Check out Student Debt and the Class of 2014, our tenth report on debt at graduation, issued as we celebrate TICAS’ tenth year! The report has new national, state-by-state, and college-level findings about recent bachelors’ degree recipients and a first-time look at 10-year trends. Released on October 27, it’s already been featured in news stories around the country, including in more than 25 states.  National toplines:

  • At public and nonprofit colleges in 2014, seven in 10 graduating seniors had loans, and their average debt was $28,950.
  • From 2004 to 2014, average debt for new graduates grew more than twice as fast as inflation.  

The release event in Washington, D.C. , called “A Decade of Student Debt,” also featured a dynamic panel discussion about what’s changed over the past 10 years and the implications for policy, moderated by Inside Higher Ed’s Doug Lederman.  We’re grateful to our expert panelists: Rohit Chopra (Center for American Progress), Tamara Draut (Dēmos), Max Espinoza (Scholarship America), and Kevin James (American Enterprise Institute).

Read Student Debt and the Class of 2014
View the interactive state map
Read the press release


Support Our Work: #GivingTuesday is Coming Soon

TICAS is excited to participate in #GivingTuesday on December 1. Help make a difference for low-income students and struggling borrowers by giving to TICAS – on Giving Tuesday or today! 

For more information, visit 

Income-Based Repayment and Pay As You Earn are two ways to help keep monthly payments affordable based on your income and family size. Visit the Department of Education’s Repayment Estimator to find out what your payments might be.

register and stay informed

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