Pay As You Earn Now Available, and a Special Year-End Request

Pay As You Earn Available December 21 For Eligible Borrowers

Starting today, recent college graduates with federal student loans can apply to lower their monthly payments using the Pay As You Earn plan. This new repayment plan has a lower monthly payment cap than the more widely available Income-Based Repayment (IBR) plan. Pay As You Earn also provides forgiveness after 20 years of payments, rather than 25 years in IBR. To learn more:

Help Us Reduce the Burden of Student Debt: Make a Year-End Donation and the Project on Student Debt are initiatives of The Institute for College Access & Success (TICAS). We developed the policy proposal that formed the basis of IBR, which became law thanks to the stories of borrowers like you and the dozens of organizations representing students, consumers, colleges, and lenders that supported its goals.

  • IBR has been available since 2009, and in 2012 enrollment passed the one million mark! Still, IBR could help many more borrowers if only they knew about it.
  • In 2012 we called for – and got – improvements that make IBR and related plans work better for borrowers, thanks to thousands of you who spoke out for change.
  • But our work is far from done. In 2013 we'll keep pushing to improve and raise awareness of repayment options like IBR and Pay As You Earn as part of our national policy agenda to reduce the burden of student debt.

We know that many IBRinfo subscribers are struggling to make ends meet. But if you are making year-end gifts, please make a tax-deductible donation to support our work in the coming year.  No gift is too small just $5 can make a difference.

Thanks for standing up for student borrowers, spreading the word about IBR, and donating if you can. Happy holidays from all of us at TICAS!

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.

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