Question
Standard Repayment Plan:
10 even payments for 10 years
You have a lot of other financial
obligations
Extended Repayment Plan
Lower payments expanded up to 25 vears
You want to be able to budget
consistently each month
Graduated Repayment Plan
Payments that start lower and increase every other year
for 10 vears
You have a low income and a lot of debt
Income-Driven Repavment Plan
Payments based on your income that last 10-25 vears
You have a low starting salary that you
expect to grow
Answer
Standard Repayment Plan: 10 years, even payments
Extended Repayment Plan: up to 25 years, lower payments
Graduated Repayment Plan: 10 years, payments start low and increase every other year
Income-Driven Repayment Plan: 10-25 years, payments based on income