The Standard Repayment Plan is the basic repayment plan for loans from the William D. Ford Federal Direct Loan (Direct Loan) Program and Federal Family Education Loan (FFEL) Program. 
Payments are fixed and made for up to 10 years between 10 and 30 years for consolidation loans. This repayment plan saves you money over time because your monthly payments may be slightly higher than payments made under other plans, but you ll pay off your loan in the shortest time. For this reason , you will pay the least amount of interest over the life of your loan. When it comes time to repay your loans , you have the option to choose a repayment plan. If you don t choose a different repayment plan , your loan servicer, the company that handles the billing and other services on your federal education loan, will place you on the Standard Repayment Plan. 

Eligible Federal Loans 
The following loans from the Direct Loan Program and the FFEL Program are eligible for the Standard Repayment Plan : Direct Subsidized Loans Direct Unsubsidized Loans Direct PLUS Loans Direct Consolidation Loans Subsidized Federal Stafford Loans Unsubsidized Federal Stafford Loans FFEL PLUS Loans FFEL Consolidation Loans Note that no new loans have been made under the FFEL Program since July 1 , 2010. 

Monthly Payments for Federal Education Loans Except Consolidation Loans 
Under this plan , your monthly payments are a fixed amount of at least $50 each month and made for up to 10 years for all loan types except Direct Consolidation Loans and FFEL Consolidation Loans. 

Monthly Payments for Consolidation Loans 
Under this plan , your monthly payments are a fixed amount of at least $50 each month and made for a period of between 10 and 30 years for Direct Consolidation Loans and FFEL Consolidation Loans. If you have a Direct Consolidation Loan or FFEL Consolidation Loan , the length of your repayment period will depend on the amount of your total education loan indebtedness. This total education loan indebt

user: I need to find out what exactly is the Standard Repayment Plan that is available through the FSA?

assistant: Under the Standard Repayment Plan, the payments to your loan are fixed and are made for up to 10 years, and can be made between 10 and 30 years for consolidation loans

assistant: Are you looking for the cheapest option that is available in relation to repayments of your student loan?

user: I haven't studied it fully so far, but was just looking for general information at present

user: How do monthly payments on Consolidation Loans work?

assistant: There are certain rules and conditions that must be met when making monthly payments to a Consolidated Loan

assistant: Do you have a Direct Consolidation Loan or an FFEL Consolidation Loan?

user: No, I have neither at the moment

user: What are the advantages of the Standard Repayment Plan when repaying a Federal Direct Loan or FFEL Program Loan?

assistant: The Standard Repayment Plan saves you money in the long term as your monthly repayments may be slightly higher through this plan than others. This means that your loan will be repaid over a shorter term, which in turn means that you will pay less interest over the life of the loan