Payment Plans

These payment plans are not available on all loans.

Compare your estimated monthly payments.

Learn how to request a payment plan change through
Account Access.

Standard Repayment

It's the fastest and most cost-effective repayment plan.

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Features Details
Your financial situation I can afford my monthly payments. No sweat!
Eligible loans Direct Loans
  • Stafford Subsidized
  • Stafford Unsubsidized
  • Consolidation
  • Special Consolidation
  • Student PLUS
  • Parent PLUS
  • PLUS Consolidation
  • Consolidation that includes a parent PLUS Loan
FFEL Loans
  • Stafford Subsidized
  • Stafford Unsubsidized
  • Consolidation
  • Student PLUS
  • Parent PLUS
  • Consolidation that includes a parent PLUS Loan
Monthly payments
  • The minimum monthly payment under this plan is $50.
  • Payments of principal and interest remain the same throughout repayment (10-30 years maximum based on the balance for Consolidation Loans; 10 years maximum for all other loan types).
  • Small changes may occur if interest is capitalized at any time during your repayment period.
Things to consider If you can't afford your payments, choose another plan that fits your budget.
How to apply No need to apply since you automatically start repayment on this plan.

Graduated Repayment

This plan allows for lower payments to start, which gradually increase over time.

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Your financial situation A smaller monthly payment would be helpful right now.
Eligible loans Direct Loans
  • Stafford Subsidized
  • Stafford Unsubsidized
  • Consolidation
  • Special Consolidation
  • Student PLUS
  • Parent PLUS
  • PLUS Consolidation
  • Consolidation that includes a parent PLUS Loan
FFEL Loans
  • Stafford Subsidized
  • Stafford Unsubsidized
  • Consolidation
  • Student PLUS
  • Parent PLUS
  • Consolidation that includes a parent PLUS Loan
Monthly payments
  • Payments start lower and then increase later in repayment (10-30 years maximum based on the balance for Consolidation Loans; 10 years maximum for all other loan types).
  • Amount varies throughout repayment.
Things to consider
  • Assumes that your income will grow enough to afford increasing payments.
  • Initial payments mainly cover interest, not the principal balance.
  • You will pay a greater amount of interest than you would on the Standard Repayment Plan.
How to apply Contact our Loan Servicing department.

Extended Fixed Repayment

If you have more than $30,000 in outstanding FDLP (Federal Direct Loan Program) or FFEL (Federal Family Education Loan Program) Loans, this plan allows you to extend the repayment term up to 25 years for those programs for which your balance exceeds $30,000.

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Your financial situation I have a lot of debt, but none of the other repayment plans work for me.
Eligible loans Direct Loans
  • Stafford Subsidized
  • Stafford Unsubsidized
  • Consolidation
  • Special Consolidation
  • Student PLUS
  • Parent PLUS
  • PLUS Consolidation
  • Consolidation that includes a parent PLUS Loan
FFEL Loans
  • Stafford Subsidized
  • Stafford Unsubsidized
  • Consolidation
  • Student PLUS
  • Parent PLUS
  • Consolidation that includes a parent PLUS Loan
Monthly payments
  • Payments of principal and interest remain the same throughout repayment.
  • Small changes may occur if interest is capitalized any time during your repayment period.
  • Payments are lower because the maximum repayment period is extended.
Things to consider
  • Only available if your loans were first disbursed on/after October 7, 1998, and your current balance meets the above-mentioned criteria.

    For example: If you have $35,000 in outstanding FDLP Loans and $10,000 in FFEL Loans, you can choose an Extended Repayment Plan for the FDLP Loans but not the FFEL Loans. If your FFEL balance was instead $32,000, you could choose the Extended Repayment Plan for both FDLP and FFEL Loans.
  • Longer repayment period means higher interest costs.
How to apply Contact our Loan Servicing department.

Extended Graduated Repayment

If you have more than $30,000 in outstanding FDLP (Federal Direct Loan Program) or FFEL (Federal Family Education Loan Program) Loans, this plan allows you to extend the repayment term up to 25 years for those programs for which your balance exceeds $30,000.

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Features Details
Your financial situation I have a lot of debt, but none of the other repayment plans work for me.
Eligible loans Direct Loans
  • Stafford Subsidized
  • Stafford Unsubsidized
  • Consolidation
  • Special Consolidation
  • Student PLUS
  • Parent PLUS
  • PLUS Consolidation
  • Consolidation that includes a parent PLUS Loan
FFEL Loans
  • Stafford Subsidized
  • Stafford Unsubsidized
  • Consolidation
  • Student PLUS
  • Parent PLUS
  • Consolidation that includes a parent PLUS Loan
Monthly payments
  • Initially lower and then increase later in repayment.
  • Amount varies throughout repayment.
  • Payments are lower because the maximum repayment period is extended.
Things to consider
  • Only available if your loans were first disbursed on/after October 7, 1998, and your current balance meets the above-mentioned criteria.

    For example: If you have $35,000 in outstanding FDLP Loans and $10,000 in FFEL Loans, you can choose an Extended Repayment Plan for the FDLP Loans but not the FFEL Loans. If your FFEL balance was instead $32,000, you could choose the Extended Repayment Plan for both FDLP and FFEL Loans.

  • Longer repayment period means higher interest costs.
How to apply Contact our Loan Servicing department.

Pay As You Earn

Pay As You Earn is an income-driven repayment option that considers income and family size and offers lower monthly payments to those who are eligible. Under this plan, we calculate your reduced monthly payments by using your adjusted gross income and family size. If you're married and file a joint federal income tax return, we will include your spouse's income as well as their eligible student loan debt, if applicable. This plan differs from other income-driven repayment plans in that loan forgiveness is granted after 20 years of qualifying payments instead of 25 and is calculated based on 10% of your income.

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Your financial situation I have a sizeable amount of student loan debt and I'm not sure if I can afford my monthly payments or if I even have the right loans to apply for reduced payments. What should I do?
Eligible borrower
  • You have no outstanding balance on a Direct Loan or FFEL Program Loan as of October 1, 2007, or had no outstanding balance on a Direct Loan or FFEL Program Loan when you obtained a new loan on or after October 1, 2007.
  • You have a Direct Loan (one of the types listed under eligible loans) with a disbursement made on or after October 1, 2011.
Eligible loans Direct Loans (at least one)
  • Stafford Subsidized
  • Stafford Unsubsidized
  • Consolidation
  • Special Consolidation
  • Student PLUS

The following Direct Loans are NOT eligible for this repayment plan: defaulted loans, parent PLUS Loans, Consolidation or Special Consolidation Loans that repaid a parent PLUS Loan, and Consolidation Loans that repaid a loan made before October 1, 2007.

FFEL Loans
  • Not Eligible
Monthly payments
  • Based on your adjusted gross income (individually or with your spouse, if applicable), your family size, and your state of residence.
  • May be less than the interest that accrues each month.
  • May be as low as $0.00.
  • Recalculated annually.
Things to consider
  • You must have a partial financial hardship (based on your adjusted gross income and family size) to enter this repayment plan.
  • If you're married and filed a joint tax return, your spouse's eligible student loan debt and adjusted gross income are also considered.
  • Requires you to submit documentation annually to continue making payments based on your income.
  • You can request to have your account put on an Income-Driven Plan with the lowest monthly payment.
  • Repayment period is up to 20 years.
  • Offers loan forgiveness after 20 years if you make the equivalent of 240 qualifying monthly payments.

Arrow Get more specifics about Pay As You Earn at studentaid.ed.gov.

How to apply

Apply Online

  1. Sign in to www.studentloans.gov using your FAFSA pin
  2. Navigate to the "Repayment" section on the left side navigation bar
  3. Click "Complete IBR/Pay As Your Earn/ICR Repayment Plan Request"

Income-Based Repayment (IBR)

Under this plan, your monthly payments are based on your adjusted gross income and family size. If you're married and file a joint federal income tax return, your spouse's adjusted gross income, and eligible student loan debt, if applicable, is also taken into consideration.

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Your financial situation I have little or no income and mounds of student loan debt, so I'm stressed about my monthly payments.
Eligible loans Direct Loans
  • Stafford Subsidized
  • Stafford Unsubsidized
  • Consolidation
  • Special Consolidation
  • Student PLUS

The following Direct Loans are NOT eligible for this repayment plan: defaulted loans, parent PLUS Loans, and Consolidation or Special Consolidation Loans that repaid a parent PLUS Loan.

FFEL Loans
  • Stafford Subsidized
  • Stafford Unsubsidized
  • Consolidation
  • Student PLUS

The following FFEL Loans are NOT eligible for this payment plan: defaulted loans, parent PLUS Loans, and Consolidation Loans that repaid a parent PLUS Loan.

Monthly payments
  • Based on your adjusted gross income (individually or with your spouse, as applicable), your family size, and your state of residence.
  • May be less than the interest that accrues each month.
  • May be as low as $0.00.
  • Are recalculated annually (visit the IBR Calculator on Student Aid on the Web).
Things to consider
  • You must have a partial financial hardship (based on your adjusted gross income, and family size. If you're married and file a joint tax return, your spouse's eligible student loan debt and adjusted gross income are also considered).
  • Requires you to submit documentation annually to continue making payments based on your income.
  • Repayment period is up to 25 years.
  • Offers loan forgiveness after 25 years if you make the equivalent of 300 qualifying monthly payments.

Arrow Get more specifics about IBR at studentaid.ed.gov.

How to apply

Apply Online

  1. Sign in to www.studentloans.gov using your FAFSA pin
  2. Navigate to the "Repayment" section on the left side navigation bar
  3. Click "Complete IBR/Pay As Your Earn/ICR Repayment Plan Request"

Income-Contingent Repayment (ICR)

ICR calculates your monthly payments based on your adjusted gross income (and your spouse's income, if you're married), family size, and the total amount of your eligible loan debt.

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Your financial situation I'm worried about my monthly payments and need some flexibility.
Eligible loans Direct Loans
  • Stafford Subsidized
  • Stafford Unsubsidized
  • Consolidation
  • Special Consolidation
  • Student PLUS

Direct parent PLUS loans are not eligible for this repayment plan.

FFEL Loans

FFEL Loans are NOT eligible for this payment plan.
Monthly payments
  • Based on your adjusted gross income (and your spouse's income, if you're married), family size, and the total amount of your eligible loan debt.
  • Will initially be at least the interest that accrues each month until your official payment amount is calculated. Then it may be less than the interest that accrues each month.
  • May be as low as $0.00.
  • Are recalculated annually (visit the ICR Calculator on the Federal Student Aid website).
Things to consider
  • Requires you to provide documentation annually.
  • Maximum repayment period is 25 years.
  • Offers loan forgiveness after 25 years once you make the equivalent of 25 years of qualifying monthly payments.
  • Learn more about ICR.
How to apply

Apply Online

  1. Sign in to www.studentloans.gov using your FAFSA pin
  2. Navigate to the "Repayment" section on the left side navigation bar
  3. Click "Complete IBR/Pay As Your Earn/ICR Repayment Plan Request"

Income Sensitive Repayment

Your monthly payments are based on your total monthly gross income, and you must re-apply annually.

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Features Details
Your financial situation I'm worried about my monthly payments and need some flexibility.
Eligible loans Direct Loans

Direct Loans are NOT eligible for this payment plan.
FFEL Loans
  • Stafford Subsidized
  • Stafford Unsubsidized
  • Consolidation
  • Student PLUS
  • Parent PLUS
Monthly payments
  • Based on your monthly gross income.
  • Must at least cover the interest that accrues each month.
Things to consider
  • You must re-apply annually.
  • More expensive in the long run because you repay the principal at a slower rate.
How to apply
  1. Download and complete an Income Sensitive Application.(PDF)
  2. Submit documentation of your most recent total monthly gross income from all sources (for example, pay stubs).
  3. Mail or fax your completed application and required documentation to:

    FedLoan Servicing
    P.O. Box 69184
    Harrisburg, PA 17106-9184

    Fax: (717) 720-1628

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