Standard Repayment

The borrower will pay a fix amount each month for the life of the loan. The payment would be determined by your borrowed amount, interest rate, and term of the loan.

Graduated Repayment

The borrower would make payments lower than the standard repayment plan, but would gradually increase every two years.

Income Contingent(ICR)

In this plan, the borrower would make payments based on their income, family size, loan balance, and interest rate. Borrowers in the ICR can have a payment as low as $0.00/mo

Income Based(IBR)

This plan bases the borrowers payment strictly on their income and family size. The balance of the loan and interest rate are not used in calculating the monthly payment. The borrower would be responsible to pay 15% of their discretionary income to their federal student loans. Borrowers in the IBR can have a payment as low as $0.00/mo

Pay As You Earn(PAYE)

This plan usually has the lowest monthly payment, and is also based on your income but uses 10% of your discretionary income as a payment instead of the 15% used in IBR. Qualifying for the PAYE repayment plan is more difficult than the others. Borrowers in the PAYE can have a payment as low as $0.00/mo