What does it mean when it says that I must be a new borrower to qualify for the PAYE Plan?
This means that you must have had no outstanding balance on a Direct Loan or FFEL Program loan when you received a Direct Loan or FFEL Program loan on or after Oct. 1 , 2007 , and you must have received a disbursement of a Direct Loan on or after Oct. 1 , 2011
Okay, that's it. the direct loan is also something I'd like to know. Do we have the option of selecting a payment plan?
You have the option to choose a repayment plan. If you don’t choose a repayment plan your loan servicer places you on the Standard Repayment Plan.