Definitions for "Income Sensitive Repayment"
Loan repayment that is based on the borrower's income. Payments increase as income rises. Sallie Mae's website has an example.
The borrower must demonstrate eligibility to participate in this repayment option. The repayment plan allows the borrower's monthly payment to be adjusted annually based on the borrower's expected gross monthly income.
a repayment program in which the size of the monthly payments depends on the income earned by the borrower. As the borrower’s income increases, so do the payments.