Extended Loan Repayment Schedules
Income-Sensitive Repayment Schedule
- This plan is appropriate if your income fluctuates, you have substantial loan balances or you need smaller monthly payments; however, total interest costs are typically higher over the life of the loan.
- Monthly payments are adjusted based on gross monthly income.
- Payments must cover accruing interest.
- The plan must be renewed annually.
ExtendedRepayment Schedule
- This plan is only available if you have Federal Family Education Loan Program (FFELP) loans totaling more
than $30,000.
- You may choose either the standard or graduated repayment schedule.
- The repayment term for this schedule can be up to 25 years.
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