Student Loan Repayment Schedules
The monthly repayment amount and time period are determined by your loan amount and schedule of repayment. Loan holders offer four repayment schedules to accommodate your needs.
1. StandardRepayment Schedule
- This plan is the most financially effective way to pay off your student loan while minimizing interest costs.
- Payments are due monthly, excluding periods of deferment or forbearance.
- This schedule has a 10-year repayment term.
2. GraduatedRepayment Schedule
- This plan is ideal if you have limited income but expect to have higher earnings in the future; however, total interest costs are typically higher over the life of the loan.
- Monthly payments are lower at the beginning of the repayment period and increase over time.
- This schedule has a 10-year repayment term.
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