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OMB Form 1845-0102 Income-Driven Repayment Plan Request
What Is OMB No. 1845-0102?
OMB No. 1845-0102 - officially called the " Income-Driven Repayment Plan Request " - is a legal document you need to complete if you want to lower the monthly payment amount for your student loans. Each repayment plan will give you an affordable student loan payment plan based on your income, family size, and state of residence. All of these factors determine your discretionary income - the amount of money you can afford to repay your loans each month.
The Department of Education currently offers you the following income-driven repayment plans:
- Pay As You Earn (PAYE).
- Revised Pay As You Earn (REPAYE).
- Income-Based Repayment (IBR).
- Income-Based Repayment for New Loan Borrowers (IBR Plan for New Borrowers).
- Income Contingent Repayment (ICR).
This form was released by the U.S. Department of Education . You can download the OMB No. 1845-0102 Form through the link below.
How to Fill Out an OMB No. 1845-0102 Form?
Add the following information to an Income-Driven Repayment Plan Request:
- Personal details: your social security number, name, address, and telephone number.
- Reason for submitting the form. You may wish to enter an income-driven plan, request the annual recertification, have a recalculation of your income-driven payment, or change to another income-driven plan. Choose a repayment plan, state the number of loan holders or servicers, and indicate if you are currently in deferment or forbearance.
- Family size information and your marital status. State the number of relatives who live with you and receive more than half of their support from you.
- Income information for single and married borrowers filing as single and married borrowers filing jointly or separately. You also need to provide documentation of all taxable income you and your spouse, if you have one, receive at the moment.
- Request of a one-month reduced-payment forbearance and its amount if you want to sign up for an income-driven repayment plan or wish to change it.
- Certification that confirms all of the information on the form is true, accurate, and complete. You also agree to repay your loans according to the repayment schedule and the terms of your promissory note.
- Your signature and the current date. Your spouse also must sign this form.
- Add the address of your loan holder you will send the form to.
Where to Mail 1845-0102?
Send the OMB No. 1845-0102 and all supplementary documentation to your loan holder. If you have a Direct Loan, the holder is the Department of Education. If you have a Federal Family Education Loan (FFEL Loan), the holder may be a secondary market, lender, guarantee agency, or the Department of Education.
However, if your loan holder uses a servicer to handle payment, billing, repayment options, and other communications, send the form to the servicer. When your loan holder sends the form to you, the address is already shown in Section 7 of the document.
Download OMB Form 1845-0102 Income-Driven Repayment Plan Request
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