LumeaFinancial

Income-Driven Repayment

Lower Your Monthly Payment

If your federal student loan payment is more than your budget can carry, an income-driven repayment plan can tie your payment to what you actually earn. We help you choose the right plan for the 2026 rules and file it correctly the first time.

The 2025 federal law and the end of the SAVE plan reshaped income-driven repayment. As of 2026, the long-term options are IBR and the new Repayment Assistance Plan (RAP). Which one is right depends on your loan types, your income, whether you are pursuing forgiveness, and your timeline. Picking the wrong plan, or consolidating at the wrong moment, can quietly cost you options you cannot get back.

This may be a fit if…

  • Your monthly payment feels unaffordable next to your income
  • You are on a standard plan and did not know you had options
  • You were on the SAVE plan and got moved into forbearance
  • You are not sure which plan you qualify for after the 2026 changes

How we help

  1. 1Review your loan types, income, household size, and goals
  2. 2Model your estimated payment under the plans you actually qualify for
  3. 3Prepare and help you submit the IDR application and income documentation
  4. 4Set a recertification reminder so your payment does not jump unexpectedly

Our honest take

You can apply for any income-driven repayment plan yourself, for free, at StudentAid.gov. What you are paying us for is getting the strategy right, preparing the paperwork accurately, and managing it over time, not for access to the program.

Common questions

It depends on your income, household size, and loan balance. For many borrowers the payment drops substantially, and some qualify for very low payments. Any number we give you before enrollment is an estimate. The final amount is set by your loan servicer based on the documentation submitted.

Borrowers who were on SAVE were placed into a forbearance where interest is accruing and the time does not count toward forgiveness. Most people should not wait for their switch notice if they are pursuing forgiveness. We can review whether IBR or RAP is the better move for your situation and help you switch.

It can. Stretching payments out over more years can mean more total interest, even when the monthly payment is lower. We will be straight with you about the trade-off so you can decide what matters most: monthly cash flow, total cost, or a path to forgiveness.

Other ways we help

Public Service Forgiveness (PSLF)

Learn more

Parent PLUS Strategy

Learn more

Getting Out of Default

Learn more

See what you actually qualify for.

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