Repayment Options

• Repayment period – 10 years
• Pay down principal and interest each month
• Lowest total cost (other than prepayment)
• Consistent monthly payments
• Minimum $50 monthly payment

For loans disbursed after 7-1-08, subsidized Stafford Loans for undergraduate students will be at a fixed interest rate of 6% fixed rate. Subsidized Stafford Loans for graduate students and all Unsubsidized Stafford Loans will be at a fixed interest rate of 6.8% fixed rate. .
8.50% fixed rate for Parent PLUS Loans* and Graduate PLUS Loans
Loans made prior to 7/1/2006 will still remain variable.

• Repayment period – 10 years
• Make smaller payments at first, then larger payments over the remaining years
• Payments may be easier to manage straight out of school, but you’ll pay more interest over the life of the loan
• Assumes your income will grow to cover your payment over time
• Your lender will set your minimum payment

As of 7/1/08, the interest rates are:
6% fixed rate for subsidized Stafford Loans (in-school, grace, deferment) and 6.8% fixed rate for unsubsidized Stafford Loans (in-school, grace, deferment).
8.50% fixed rate for Parent PLUS Loans* and Graduate PLUS Loans

• Repayment period – 25 years
• Take more time to pay back your loans
• Choose a standard or graduated repayment schedule (see above)
• Your lender will set your minimum monthly payment, which must be at least equal to the amount of interest due
• You may qualify if you have more than $30,000 in Federal Loans

As of 7/1/08, the interest rates are:
6% fixed rate for subsidized Stafford Loans (in-school, grace, deferment) and 6.8% fixed rate for unsubsidized Stafford Loans (in-school, grace, deferment).
8.50% fixed rate for Parent PLUS Loans* and Graduate PLUS Loans

• Repayment period – 10-15 years
• Adjust your payments annually based on your income
• Your lender will set your minimum payment based on your income documentation
• Monthly payments generally range from 4 to 25 percent of your gross monthly income
• Repayment period can be extended annually, up to five years

As of 7/1/08, the interest rates are:
6% fixed rate for subsidized Stafford Loans (in-school, grace, deferment) and 6.8% fixed rate for unsubsidized Stafford Loans (in-school, grace, deferment).
8.50% fixed rate for Parent PLUS Loans* and Graduate PLUS Loans