Standard Student Loan Repayment

Standard Student Loan Repayment

Standard student loan repayment options include standard, graduated, and extended programs. Each is a different style of repayment with different interest rates and varying repayment terms. These are alternatives to income-driven repayment programs.

Ask an Enrollment Advisor About Your Options

Your typical standard repayment terms are not for everyone. Student loan forgiveness may be an option for you. If not, income-driven options and consolidation may also help lower monthly payments.

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Standard Repayment Programs

When you first enter into student loan repayment, there are three standard repayment plans.

Standard Repayment

Graduated Repayment

Extended Repayment

Standard Repayment

This is the repayment program your loan servicer will automatically enroll you in once you graduate if you do not choose any other type of repayment plan. It gains the lowest interest, but has the highest monthly payments.

Graduated Repayment

Graduated repayment is a flexible plan, with an increase in the payment amount after 2 years, that allows the borrower to repay their loan in a term of 10 to 30 years depending on the type of student loan and amount borrowed.

Extended Repayment

Extended repayment is similar to standard repayment, except that borrowers are able to stretch the payment over a longer term for lower monthly payments. However, this usually results in higher interest rates and an overall increase in the total amount paid back.