Loan Repayment Plan Comparison

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

Most Direct & Most Direct Loans & Program Direct Loans & FFELP Direct Loans & FFELP Most Direct Loans Most Direct Loans FFELP only FFELP FFELP

This is the plan Must qualify for reduced Must qualify for reduced Must have more than Based on your AGI, family if another plan was payments; based on your payments; based on your Based on gross monthly Eligibility Upon request $30,000 in FFELP or size, and total Direct Loan not selected before total federal loan , total federal loan debt, income Direct Loans debt entering repayment AGI, and family size AGI, and family size

Payments are the lesser Payments capped at 15% of: 20% of your monthly (10% if you are a new discretionary income (AGI Payments are capped at Payments start low Monthly payments are Fixed annual or borrower1) of your – level ÷ 12), or your 10% of your discretionary Lowers payments for 12 Payments and increase every at least $50 graduated repayment discretionary income, monthly payment on a 12- income based on your months at a time two years based on your AGI and year plan times a percentage AGI and family size family size factor that varies with your income

25-year term (20-year if- Any remaining balance 10 years (up to 30 10 years (up to 30 you are a new borrower1); 25-year term, any remaining after 20 years of 5 years, then defaults to Loan Term Up to 25 years years if consolidated) years if consolidated) any remaining balance is balance is forgiven qualifying payments is Standard or Graduated forgiven forgiven

Loan is repaid in the Works best if you shortest amount of expect your income time if payments are to increase steadily Longer loan term, A reduced monthly A reduced monthly Payments are calculated as made as scheduled over time Works best if you have a Advantages which makes payments payment amount when payment amount when aordable, based on your low-paying job Least amount of Your largest payment lower you qualify on this plan you qualify on this plan gross monthly income paid if will be no more payments are made as thanthree times your scheduled smallest payment

Recertify and Recertify and recalculate Recertify and recalculate recalculate payment Reapply annually by payment amount annually payment amount annually by Entire term, unless you Entire term, unless you Entire term, unless you amount annually by submitting current Plan Longevity by submitting current submitting current income apply for another plan apply for another plan apply for another plan submitting current income documentation income documentation documentation and family income documentation and family size and family size size and family size

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

1You are a new borrower for the IBR plan if you had no outstanding balance on a Direct Loan or FFEL Program loan as of July 1, 2014 or have no Nelnet.com | 888.486.4722 outstanding balance on a Direct Loan or FFEL Program loan when you obtain a new loan on or after July 1, 2014.