Please visit these sites if you would like to perform these calculations on your own. If you experience difficulties at any time during your repayment, you should contact your lender immediately to see if a deferment, forbearance, or consolidation program is available. Often these options can assist borrowers with their situation and help students without risking any damage to their credit history. Borrowers make equal monthly payments for the entire period. The repayment term may be extended up to 30 years, depending on the borrower's outstanding principal balance.
Borrowers make equal monthly payments for the entire period.
The repayment term may be extended up to 30 years, depending on the borrower's outstanding principal balance. The monthly payment amount increases incrementally every two years. This option is sensitive to changes in the borrower's income. The monthly payment amount is calculated as a percentage of the borrower's Adjusted Gross Income. The percentage is determined by the borrower's outstanding principal balance.