In order to qualify for an Extended Repayment plan, you must have a balance of at least $30,000.00. On an extended plan, your monthly payment will generally be lower than payments made under the Standard and Graduated Repayment Plans. Payments will be based on either a fixed, or a graduated amount. The maximum repayment term on an extended plan is 25 years. To discuss your eligibility for this plan, please reach out to one of our Loan Specialists.
Please be aware that not all these plans will give you the lowest monthly payment based on your current situation. To make it easy, Federal Student Aid provides a five step repayment questionnaire to determine the best repayment option for you. However, if you’re still unsure what option to apply for, we recommend that you reach out to one of our Loan Specialists. You can also calculate your estimated monthly payment on any of these plans using the Repayment Estimator.