Repayment Plan Comparison

Income-Based Income-Contingent Income-Sensitive Standard Graduated Extended Repayment Repayment Repayment Pay As You Repayment Repayment Repayment (IBR) (ICR) (ISR) Earn Repayment

Loan Program Direct & FFELP Direct Loans & FFELP Direct Loans & FFELP Direct Loans & FFELP Direct Loans only FFELP only Direct Loans only

This is the plan Must have a Partial Based on your AGI, if another plan was not Must have more than Financial Hardship, based Based on Gross Based on your AGI, family Upon request family size, and total Eligibility selected before $30,000 in FFELP OR on your total loan , Monthly Income size, and total federal Direct Loan debt entering repayment Direct Loans AGI, and family size student loan debt

Payments are the lesser of: 20% of your monthly Payments capped at discretionary income (AGI Payments are capped Payments start low an affordable amount, Low Pay Forbearance Monthly payments Fixed annual or – level ÷ 12), or at an affordable Payments and increase every based on your AGI lowers payments for are at least $50 graduated repayment your monthly payment on amount based on your two years and family size 12 months at a time a 12-year plan times a AGI and family size percentage factor that varies with your income

5 years, then 10 years (up to 30 10 years (up to 30 25-year term, any 25-year term, any Any remaining balance Up to 25 years defaults to Standard Loan Term years if consolidated) years if consolidated) remaining balance remaining balance after 20 years of qualifying is forgiven is forgiven or Graduated payments is forgiven

Loan is repaid in the shortest amount of Works best if you expect When no longer in Partial time if payments are your income to increase Works best if you have A reduced monthly Financial Hardship made as scheduled steadily over time a low-paying job, and Payments are calculated as payment amount when Longer loan term, which status, payments will be Advantages Your largest payment may also be used with affordable, based on your you qualify for Partial Least amount of makes payments lower capped at the 10-year will be no more than the Public Service Loan Gross Monthly Income Financial Hardship on paid if standard payment Forgiveness Program this plan payments are made three times your as scheduled smallest payment

Reapply annually to qualify Reapply annually to qualify Entire term, unless you Entire term, unless you Entire term, unless you for the reduced Partial Adjusted annually Reapply annually for the reduced Partial Plan Longevity apply for another plan apply for another plan apply for another plan Financial Hardship amount. Financial Hardship amount.

You will generally pay Capitalization will not If you require lower If you do not select Payments may be as Payments may be as Amount due each month more interest on this exceed 10% of the original payments for more than 5 Good to Know another plan, you are put low as $0, depending low as $0, depending must cover interest plan due to longer amount you owed when years, consider Extended on Standard Repayment on eligibility on eligibility repayment term entering repayment or Graduated Repayment

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