Federal Student Loan Repayment Options

There is a grace period before federal student loan repayment begins. It starts after the student drops out, graduates or enrolls less of full time. The grace period is six months for Federal student loans and nine months for Federal Perkins loans.

Loan Information

Federal student loan repayment information can be accessed at www.nslds.ed.gov. The website lists the statuses, disbursements and outstanding balances of all federal student loans.

Six Federal Student Loan Repayment Options

  • Standard Repayment Plan-this option has a fixed annual amount and the period does not beyond 10 years.
  • Graduated Repayment Plan-There is a fixed period, not over ten years, payments begin low and increase.
  • Extended Repayment Plan-There is a fixed period, not for more than 25 years.
  • Income Contingent Repayment Plan-The repayment of Direct Loans is based on income, family size, and loan amount for a period of 25 years.
  • Income Sensitive Repayment Plan-For this option payments increase and decrease according to the fluctuation of income over a repayment period of 10 years.
  • Income Based Repayment-Starts July 1, 2009, for certain financial hardships cases for FFEL and Direct Loan borrowers.

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