Loan Repayment Plan Choices
Do I have a choice of loan repayment plans?
There are several different plans for repaying federal education loans. Here's a chart that gives you an overview of how they work and how you qualify to use them. Ask your Loan Counselor for help in choosing the option that seems best for you. Remember the shorter the loan term, the less interest you will pay.
Can I change the loan repayment plan I've chosen?
You can change your repayment plan if you qualify for the one you would like to use. Contact your loan servicer to start the process and remember that you must continue to make payments under your current plan until your application to change is approved. Your loan servicer can provide you with more information as to when you can receive an update.