How long is a student loan

how long is a student loan


There are four main repayment plans for Federal education loans, consisting of Standard Repayment and three alternatives. Each of the alternatives has a lower monthly payment than Standard Repayment, but this extends the term of the loan and increases the total amount of interest repaid over the lifetime of the loan.








  • Income-Based Repayment . Similar to income contingent repayment, Income-Based Repayment caps the monthly payments at a lower percentage of a narrower definition of discretionary income.

    Loan Term for Extended/Graduated Repayment

    For extended and graduated repayment, the following chart shows how the maximum loan term depends on the amount borrowed.


    Category: Credit

    Similar articles: