Payments are fixed and made for up to 10 years or between 10 and 30 years for consolidation loans.
Would you like to know how this benefits you?
no just wanted to know how long it takes
what loans are eligible for the standard repayment plan?
Several loans from the Direct Loan Program and the FFEL Program are eligible for the Standard Repayment Plan
do we get to choose a payment plan?
You have the option to choose a repayment plan. If you don’t choose a repayment plan your loan servicer places you on the Standard Repayment Plan.
should I just let them leave me on the standard plan?
The Standard Repayment Plan saves you money over time because your monthly payments may be slightly higher than payments made under other plans, but you will pay off your loan sooner. You end up paying the least amount of interest over the life of your loan.
can I use other loans to have you look at when you work out the repayments on a Direct Consolidation Loan?