Repayment Options

Your possible repayment plans —

• Standard Repayment - fixed annual amount paid over a fixed period up to 10 years.
• Graduated Repayment - fixed period up to 10 years with low initial amount increasing every 2 years.
• Extended Repayment - fixed or graduated amount paid over a longer period (not to exceed 25 years).
• Income-Sensitive - monthly payment based on income.
• Income Based - reduced monthly payments for demonstrated financial hardship.

For detailed information regarding each plan as well as a comparative analysis of the  interest and total payments, go to the Federal web site at http://studentaid.ed.gov.
Select "Repaying Your Loans" and "Funding Education Beyond High School: The Guide to Federal Aid"

Please note that you can prepay loans, request a shorter repayment schedule and change repayment options.