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Repayment Plans

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

There are 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
  • Your monthly installment amount generally remains the same throughout repayment.
  • Small changes in your monthly installment amount may occur for various reasons, such as interest rate increases (on variable loans), due date changes, the use of deferments or forbearances, and interest capitalization.
  • You can make smaller monthly installment payments at the beginning of the repayment period.
  • Your monthly installment amount varies during repayment.
  • Your monthly installment is:
    • Typically, interest-only for a limited time
    • A payment that is smaller than a standard payment in the beginning of repayment and gradually becomes greater than the standard payment.
Income Sensitive
  • Your 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 Repayment (IBR)
  • IBR helps you manage monthly payments if you are experiencing financial hardship.
  • The repayment period may extend past the standard 10 years.
  • IBR offers loan forgiveness to borrowers who have made 300 qualifying payments on or after July 1, 2009. Any remaining balance forgiven may be taxable. Please consult a tax advisor or the IRS with any questions.
  • How to Apply:

Direct Loan Consolidation can qualify you for Public Service Loan Forgiveness (PSLF), give you access to different repayment options, help you get out of default, combine your loans into a single payment, or change the interest rate on your loan; however, if you consolidate your federal loans, you may give up other benefits. To learn more about PSLF, other repayment options, and the pros and cons to Direct Loan Consolidation, please visit

Extended Repayment plan
  • You can make smaller monthly payments by extending the repayment period to 25 years, as opposed to the standard 10-year repayment period. The payments may be fixed or graduated.
  • This option is available only to borrowers with:
    • Loans that were first disbursed on or after October 7, 1998
    • Total current FFELP loan debt of $30,000.01 or higher

Explore a different repayment plan for your federal loans.

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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Private Education Loans

Explore repayment plan options for your private education loans, or contact us to discuss the options available to you.

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