Generally, you'll meet this requirement if your federal student loan debt is higher than your annual discretionary income or represents a significant portion of your annual income.

One consideration of getting into an income-driven repayment plan (IDR) is student loan forgiveness. It can be appealing to pay and have the rest forgiven. However, there are certain conditions you need to fulfill in an IDR to qualify. Understanding them can lead you to decide whether it is the move for you.

You’ll need to maintain an Income-Driven Repayment Plan for 20-25 years. After paying it consistently, the government will forgive the rest no matter the balance remaining. How long you’ll have to pay will depend on the plan you choose.

Here’s a summary of each, according to IBR Info:
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- ICR: pay 20% of discretionary income and a 12-year repayment amount multiplied by an income percentage factor. You’ll have to pay for 25 years. It applies to all Direct Loan borrowers with no PFH required.
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- PAYE: Pay 10% of discretionary income for 20 years. It applies to all borrowers who took out a loan after Sept 30, 2007, and one other loan after Sept 30, 2011. Must have a PFH
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- IBR: 10% of discretionary income for 20 years. Applies to people who took their loan on or after July 1, 2014. Must have a PFH.
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- REPAYE: pay 10% of discretionary income for 20 years, or 25 years if you are in graduate debt. No proof of partial financial hardship (PFH) is required.