Repayment Plans

All student loans start out on a Standard Level Repayment plan which is calculated at a fixed monthly payment amount over 10 years. We’ve listed a few of the most common repayment plans below. You can follow the link for each repayment plan type in order to learn the details of that plan. You can also estimate what your monthly payment would be on various plans using the Loan Simulator on

Changing Repayment Plans

You can change your repayment plan at any time as long as you meet the qualification requirements and have the minimum number of remaining repayment terms (months) necessary for the new plan. To change your plan, complete the Repayment Plan Selection Form and return it to CornerStone, or apply for an Income-Driven Repayment plan on

Additional Information

A few things to think about when looking at Direct Loan repayment plans:
  • Your loan type will determine which repayment plans you are eligible for. For example, Parent PLUS loans are not eligible for some repayment plan options.
  • Extending your repayment term can cause you to pay down your principal balance slower, which will result in you paying much more in interest over the life of the loan.
  • You can prepay your loan at any time without penalty. Learn more about this in the FAQ page under the “Your Information” section.
  • If your loan has a variable interest rate, your monthly payment amount may change annually based on new interest rates set by congress.