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Repayment Plans

Start out on the right financial foot by selecting a repayment plan that works for you.

We offer several repayment options so you can afford your monthly student loan payments and make them on time.

Federal Loans

These repayment plans may be available to you on your federal loans.

Repayment Plan Details
  • The monthly installment amount remains the same throughout repayment.
  • Small changes in the monthly installment amount may occur for variable interest rate loans if the annual interest rate increases.
  • Borrowers can make smaller payments, typically at the beginning of the repayment period.
  • The monthly installment amount varies during repayment.
  • The monthly installment is:
    • Typically interest-only for a limited time
    • A payment that is smaller than a standard payment
  • The monthly installment amount is based on monthly gross income and student loan debt.
  • To apply for this repayment plan for the next 12 months:
    • Download and complete the Income Sensitive Repayment Form (PDF).
    • Submit documentation (pay stubs) of your most recent total monthly gross income from all sources.
Income-Based (IBR)
  • IBR helps borrowers who may be experiencing financial hardship manage their monthly payments.
  • The repayment period may extend past the standard 10 years.
  • IBR offers loan forgiveness to borrowers who have made 300 qualifying payments on/after July 1, 2009. Any remaining balance forgiven may be taxable. Please consult a tax advisor or the IRS with any questions.
  • To qualify, your initial monthly payment amount on all of your eligible loans calculated on a standard 10-year repayment plan must be more than 15% of the difference between your adjusted gross income and 150% of the poverty line for your family size.
  • How to Apply:
25-Year Extended
  • Borrowers can make smaller monthly payments by extending the repayment period to 25 years, as opposed to the standard 10-year repayment period.
  • This option is available only to borrowers with:
    • Loan(s) that were first disbursed on/after October 7, 1998
    • A current loan balance of $30,000 or higher

If you would like to explore a different repayment plan for your federal loans, or if your account is 60 or more days delinquent and you need to make immediate payment arrangements, please contact us. Our customer service representatives will be happy to assist you.

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Alternative (Private) Loans

If you would like to explore a different repayment plan for your alternative (private) loans, contact us to discuss the options available to you.

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