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Repayment Assistance: Repayment Plan Options

Repayment plans and payments

You'll start repaying your loan six months after you leave school or drop below half-time enrollment. You have a choice of repayment plans, and you may change your repayment plan once a year.

Standard Repayment lets you repay the loan in equal monthly payments of at least $50 for the life of the loan.

Graduated Repayment allows you to begin with a lower monthly payment which increases gradually over the life of the loan.

Income-Sensitive Repayment adjusts your monthly payment annually based on your total income and student loan debt.


Extended Repayment for up to 25 years is available if you borrow a student loan for the first time after October 7, 1998, and you have more than $30,000 in student loans.

Use the Student Loan Repayment Calculator to estimate your monthly payment based on your loan amount and repayment plan.

Electronic Payments
These plans automatically deduct your payment from your bank account, saving the expense of postage and checks, and insuring your payments are made on time. Ask your lender how you can set up electronic payments.

Borrower Benefit Programs
Ask if your lender has a program that offers reduced interest rates or discounts for borrowers who make payments on time

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