Plans›PAYE

10% of discretionary income · 20 yr forgiveness · phases out 2028-07-01

Pay As You Earn

34 CFR §685.209·2026-04-22Phases out 2028-07-01
Formula

10% of (AGI − 1.5 × FPL); never exceeds 10-yr Standard payment.

Forgiveness term
20 years
PSLF-compatible

Best for

  • Borrowers who qualify under the eligibility cliff (no Direct Loans before 2007, new loan after 2011).

Not for

  • Anyone who took a Direct Loan before October 1, 2007.
  • Borrowers entering repayment 2028 or later — the plan is phased out.

Run your numbers through the comparator to see PAYE next to all alternatives.

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