Standard Repayment Plan |
Direct Loans
FFELP Loans
All PLUS loans
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Payments are a fixed amount of at least $50 per month.
Up to 10 years
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You'll pay less interest for your loan over time under this plan than you would under other plans.
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Graduated Repayment Plan* |
Direct Loans
FFELP Loans
All PLUS loans
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Payments are lower at first and then increase, usually every two years.
Up to 10 years
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You'll pay more for your loan over time than under the 10-year standard plan.
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Extended Repayment Plan* |
Direct Loans
FFELP Loans
All PLUS loans
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Payments may be fixed or graduated.
Up to 25 years
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Your monthly payments would be lower than the 10-year standard plan.
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Income-Based Repayment Plan (IBR) |
Direct Loans
FFELP Loans
All GradPLUS loans
Consolidation Loans (Direct or FFEL) that do not include Direct or FFEL Parent PLUS loans
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Your maximum monthly payments will be 15 percent of discretionary income, the difference between your adjusted gross income and 150 percent of the poverty guideline for your family size and state of residence (other conditions apply).
Your payments change as your income changes.
Up to 25 years
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You must have a partial financial hardship.
Your monthly payments will be lower than payments under the 10-year standard plan.
You'll pay more for your loan over time than you would under the 10-year standard plan.
If you have not repaid your loan in full after making the equivalent of 25 years of qualifying monthly payments, any outstanding balance on your loan will be forgiven.
You may have to pay income tax on any amount that is forgiven.
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Revised Pay As You Earn (REPAYE) Repayment Plan |
Direct Loans ONLY
Subsidized, Unsubsidized, and GradPLUS loans
Direct Consolidation Loans that do not include Parent PLUS loans
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Your monthly payments will be 10 percent of your and your spouse’s (if applicable) discretionary income, the difference between your adjusted gross income and 150 percent of the poverty guideline for your family size and state of residence (other conditions apply).
Your payments change as your income changes.
Up to 20 or 25 years
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No income requirement to enter plan
Your monthly payments may be lower than payments under the 10-year standard plan.
If you have not repaid your loan in full after you made the equivalent of 20 or 25 years of qualifying monthly payments, any outstanding balance on your loan will be forgiven.
Additional interest subsidy (when applicable)
Under current IRS rules, any loan amount that is forgiven under REPAYE or any income driven repayment plan is considered taxable income.
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Pay As You Earn (PAYE) Repayment Plan |
Direct Loans
FFELP Loans
All GradPLUS loans
Consolidation Loans (Direct or FFEL) that do not include Direct or FFEL Parent PLUS loans
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Your maximum monthly payments will be 10 percent of discretionary income, the difference between your adjusted gross income and 150 percent of the poverty guideline for your family size and state of residence (other conditions apply).
Your payments change as your income changes.
Up to 20 years
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You must be a new borrower on or after Oct. 1, 2007, and must have received a disbursement of a Direct Loan on or after Oct. 1, 2011.
You must have a partial financial hardship.
Your monthly payments will be lower than payments under the 10-year standard plan.
You'll pay more for your loan over time than you would under the 10-year standard plan.
If you have not repaid your loan in full after you made the equivalent of 20 years of qualifying monthly payments, any outstanding balance on your loan will be forgiven.
You may have to pay income tax on any amount that is forgiven.
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Income-Contingent Repayment Plan |
Direct Loans
All GradPLUS loans
Consolidation Loans
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Payments are calculated each year and are based on your adjusted gross income, family size, and the total amount of your Direct Loans.
Your payments change as your income changes.
Up to 25 years
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You'll pay more for your loan over time than under the 10-year standard plan.
If you do not repay your loan after making the equivalent of 25 years of qualifying monthly payments, the unpaid portion will be forgiven.
You may have to pay income tax on the amount that is forgiven.
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Income-Sensitive Repayment Plan |
FFELP Loans
FFEL PLUS Loans
FFEL Consolidation Loans
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Your monthly payment is based on annual income.
Your payments change as your income changes.
Up to 10 years
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You'll pay more for your loan over time than you would under the 10-year standard plan.
Each lender's formula for determining the monthly payment amount under this plan can vary.
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