Publication Date
April 05, 2024
Posted Date
April 05, 2024
Subject
Annual Updates to the Income-Contingent Repayment (ICR) Plan Formula for 2024-2025 William D. Ford Federal Direct Loan Program
FR Type
Notice
The Secretary announces the annual updates to the ICR plan formula for 2024 to give notice to borrowers and the public regarding how monthly ICR payment amounts will be calculated for the 2024-2025 year under the William D. Ford Federal Direct Loan (Direct Loan) Program. The adjustments to the income percentage factors for the ICR plan formula contained in this notice are applicable from July 1, 2024, to June 30, 2025, for any borrower who enters the ICR plan or has a monthly payment amount under the ICR plan recalculated during that period.
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