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:
This form was released by the U.S. Department of Education. You can download the OMB No. 1845-0102 Form through the link below.
Add the following information to an Income-Driven Repayment Plan Request:
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.
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