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Repayment Options

Repayment Plan	Eligible Loans	Monthly Payment and Time Frame	Quick Comparison
Standard Repayment	Direct Subsidized and Unsubsidized Loans Direct Parent PLUS Loans	Fixed payments, at $50 per month Up to 10 years	Pay less interest over time
Graduated Repayment	Direct Subsidized and Unsubsidized Loans Direct Parent PLUS Loans	Graduated payments, begin lower and increase, usually every two years Up to 10 years	Pay more interest over time than standard plan
Extended Repayment	Direct Subsidized and Unsubsidized Loans Direct Parent PLUS Loans	Payments may be fixed or graduated. Must have more than $30,000 in Direct or Parent PLUS loans Up to 25 years	Monthly payments are lower than the standard plan
Income-Based Repayment (IBR)	Direct Subsidized and Unsubsidized Loans	Maximum monthly payments are 15% of discretionary income; payments change as income changes Up to 25 years	Monthly payments are lower than standard plan; Pay more interest over time than standard plan; After 25 years of monthly payments, the unpaid portion will be forgiven
Pay As You Earn Repayment	Direct Subsidized and Unsubsidized Loans	Maximum monthly payments will be 10% of discretionary income; payments change as income changes Up to 20 years	Monthly payments are lower than standard plan; Pay more interest over time than standard plan; After 20 years of monthly payments, the unpaid portion will be forgiven
Income-Contingent Repayment	Direct Subsidized and Unsubsidized Loans	Payments are calculated each year and are based on your adjusted gross income, family size, and the total amount of your Direct Loans; Payments changes as income changes Up to 25 years	Monthly payments are lower than standard plan; pay more interest over time than standard plan; after 20 years of monthly payment, the unpaid portion will be forgiven
Income-Sensitive Repayment	Direct Subsidized and Unsubsidized Loans	Monthly payment is based on annual income; payments change as your income changes Up to 10 years	Monthly payments are lower than standard plan; Each lender formula for determining the monthly payment amount under this plan can vary.
Revised Pay As You Earn (REPAYE) Repayment	Direct Subsidized and Unsubsidized Loans	Maximum monthly payments will be 10% of discretionary income; payments change as income changes Up to 20 years	Monthly payments are lower than standard plan; Pay more interest over time than standard plan; After 20 years of monthly payments, the unpaid portion will be forgiven; amount forgiven may be subject to federal income tax