Requirements: The newest candidate have to have an IBR loan who has got lasted beyond twenty five years

Qualified Financing Systems: Direct Sponsored and Unsubsidized Financing, Head Together with Money (built to scholar otherwise professional youngsters), Direct Consolidated Money, Consolidated FFEL Fund (Stafford, FFEL Together with), Consolidated Federal Perkins Funds.

Eligible Loan Systems: Direct Sponsored and you can Unsubsidized Financing, Direct In addition to Funds (designed to scholar otherwise top-notch pupils), Head Consolidated Loans (not reduced so you’re able to mothers), Consolidated FFEL Funds (Stafford, FFEL As well as maybe not reduced to moms and dads, Consolidation), Consolidated Federal Perkins Funds.

Requirements: The latest qualification is based on the first principal equilibrium.