Federal Student Loan Repayment Plans
Compare all repayment options and find the plan that saves you the most money
Calculate Your PaymentsQuick Plan Comparison
| Plan Type | Term | Monthly Payment | Forgiveness | Best For |
|---|---|---|---|---|
| Standard | 10 years | Fixed | ❌ | Quick payoff, less interest |
| Graduated | 10 years | Increasing | ❌ | Growing income |
| Extended | 25 years | Fixed/Graduated | ❌ | Lower payments |
| IBR | 20-25 years | 10-15% income | ✅ | High debt/low income |
| PAYE | 20 years | 10% income | ✅ | New borrowers |
| REPAYE | 20-25 years | 10% income | ✅ | All borrowers |
| ICR | 25 years | 20% income | ✅ | Parent PLUS |
Detailed Plan Information
Standard Repayment
Term: 10 years
Monthly Payment:
Fixed
Best For:
Paying off loans quickly with less interest
Pros:
- Lowest total interest
- Faster payoff
- Predictable payments
Cons:
- Higher monthly payments
- No forgiveness options
Graduated Repayment
Term: 10 years
Monthly Payment:
Starts low, increases every 2 years
Best For:
Recent graduates expecting income growth
Pros:
- Lower initial payments
- Still pays off in 10 years
- Good for entry-level salaries
Cons:
- More total interest than Standard
- Payments can triple over time
Extended Repayment
Term: 25 years
Monthly Payment:
Fixed or Graduated
Best For:
Borrowers with over $30,000 in loans
Pros:
- Lower monthly payments
- More manageable budget
- Fixed or graduated options
Cons:
- Much more total interest
- Longer debt burden
- No forgiveness
Income-Based Repayment (IBR)
Term: 20-25 years
Monthly Payment:
10-15% of discretionary income
Best For:
High debt relative to income
Pros:
- Payments based on income
- Forgiveness after 20-25 years
- Can be $0/month
Cons:
- More interest over time
- Forgiven amount may be taxable
Pay As You Earn (PAYE)
Term: 20 years
Monthly Payment:
10% of discretionary income
Best For:
New borrowers with financial hardship
Pros:
- Lower payments than IBR
- 20-year forgiveness
- Interest subsidy benefits
Cons:
- Strict eligibility requirements
- Only for newer loans
REPAYE
Term: 20-25 years
Monthly Payment:
10% of discretionary income
Best For:
All Direct Loan borrowers
Pros:
- No income cap
- Interest subsidy
- Available to all
Cons:
- No payment cap
- Spouse income counts
- 25 years for grad loans
Income-Contingent (ICR)
Term: 25 years
Monthly Payment:
20% of discretionary income
Best For:
Parent PLUS borrowers (consolidated)
Pros:
- Available for Parent PLUS
- 25-year forgiveness
- No eligibility restrictions
Cons:
- Highest IDR payments
- Less favorable terms
How to Choose the Right Plan
Calculate Your Current Financial Situation
Determine your monthly income, expenses, and how much you can afford to pay toward loans.
Consider Your Career Path
If you work in public service, PSLF-eligible plans (IBR, PAYE, REPAYE) might be best. For growing incomes, graduated plans could work well.
Evaluate Total Interest Cost
Lower monthly payments often mean more interest over time. Use our calculator to compare total costs.
Check Forgiveness Eligibility
If you qualify for forgiveness programs, Income-Driven plans often make the most sense.
Important Considerations
- • Switching plans may reset your forgiveness clock
- • Income-driven plans require annual recertification
- • Forgiven amounts may be taxable income (except PSLF)
- • Missing payments can lead to default and serious consequences
Ready to Choose Your Plan?
Use our calculator to see exactly how much you'll pay under each plan