Income-Contingent Repayment (ICR)

Income-Contingent Repayment (ICR) is a student loan repayment plan where your monthly payments are based on your income and family size rather than the total amount borrowed. If your income is low or unstable, your payments will be smaller or even zero. Over time, if you still owe money after making payments for a set period, the remaining balance may be forgiven. ICR provides flexibility for borrowers with variable or low income, helping make student loan repayment more manageable and aligned with their financial situation.