IBR is an amount based on how much you are currently earning. It doesn’t really matter how much of your payment is interest or principal. Sometimes the IBR is $0. I’m not a huge fan of IBR because it is not set up for the ex-student to ever pay off the entire amount.
I think this proposed program is not IBR but paying an amount each month (who knows how much) that goes directly to principal. I agree with @thumper1 that unless they adjust the monthly payment, it’s not going to help the person make the $300 or $400 payment per month. It’s nice that it will all go to principal, but it still hurts the wallet each month when, as now, many have just lost jobs or at least some income.
I was just saying that it is easy to know the amount of the monthly payment that is going to interest and the amount to principal. If they don’t adjust the monthly payment amount, it will be hard for those who have reduced incomes to make the payments.