Resources to Assist Borrowers

As you repay your student loan(s), you should be aware of additional resources to assist you.

NSLDS FOR STUDENTS

The National Student Loan Data System [NSLDS] is the U.S. Department of Education's central database for student aid. It receives data from schools, agencies that guaranty loans, the Direct Loan program, the Pell Grant program, and other U.S. Department of Education programs. NSLDS provides a centralized, integrated view of Title IV loans and Pell grants that are traced through their entire cycle: from aid approval through closure. Click here to check the status of student loan amounts, or you can call the Federal Student Aid information center 1.800.4FEDAID or TDD 1.800.730.8913.

If you have a dispute with your school, or servicer of your student loan(s), and you've been unable to resolve the issue, you may contact the U.S. Department of Education's Federal Student Aid Ombudsman's office at 1.877. 557.2575.

CHOOSING A REPAYMENT PLAN

You have a choice of several repayment plans that are designed to meet your needs. The amount you pay and the length of time to repay your loans will vary depending on the repayment plan you choose. Get details about repayment plans and calculate your estimated repayment amount under each of the different plans.

Overview of Direct Loan and FFEL Program Repayment Plans

Repayment Plan

Eligible Loans

Monthly Payment & Time Frame

Quick Comparison

Standard Repayment Plan

  • Direct Subsidized and Unsubsidized Loans
  • Subsidized and Unsubsidized Federal Stafford Loans
  • all PLUS loans

Payments are a fixed amount of at least $50 per month.

Up to 10 years

You'll pay less interest for your loan over time under this plan than you would under other plans.

Graduated Repayment Plan

  • Direct Subsidized and Unsubsidized Loans
  • Subsidized and Unsubsidized Federal Stafford Loans
  • all PLUS loans

Payments are lower at first and then increase, usually every two years.

Up to 10 years

You'll pay more for your loan over time than under the 10-year standard plan.

Extended Repayment Plan

  • Direct Subsidized and Unsubsidized Loans
  • Subsidized and Unsubsidized Federal Stafford Loans
  • all PLUS loans

Payments may be fixed or graduated.

Up to 25 years

  • Your monthly payments would be lower than the 10-year standard plan.
  • If you are a
  •  
  • Direct Loan borrower, you must have more than $30,000 in outstanding Direct Loans.
  • FFEL borrower, you must have more than $30,000 in outstanding FFEL Program loans.

For example, if you have $35,000 in outstanding FFEL Program loans, and $10,000 in Direct Loans, you can use the extended repayment plan for your FFEL Program loans, but not for your Direct Loans.

  • For both programs, you must also be a new borrower as of Oct. 7, 1998.
  • You'll pay more for your loan over time than under the 10-year standard plan.

Income-Based Repayment Plan (IBR)

  • Direct Subsidized and Unsubsidized Loans
  • Subsidized and Unsubsidized Federal Stafford Loans
  • all PLUS loans made to students
  • Consolidation Loans (Direct or FFEL) that do not include Direct or FFEL PLUS loans made to parents
  • 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

  • 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.

Pay As You Earn Repayment Plan

  • Direct Subsidized and Unsubsidized Loans
  • Direct PLUS loans made to students
  • Direct Consolidation Loans that do not include (Direct or FFEL) PLUS loans made to parents
  • 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

  •  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.

Income-Contingent Repayment Plan

  • Direct Subsidized and Unsubsidized Loans
  • Direct PLUS Loans made to students
  • Direct Consolidation Loans
  • 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

 

  • 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.

Income-Sensitive Repayment Plan

  • Subsidized and Unsubsidized Federal Stafford Loans
  • FFEL PLUS Loans
  • FFEL Consolidation Loans
  • Your monthly payment is based on annual income.
  • Your payments change as your income changes.

Up to 10 years

  • 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.