The Standard Repayment Plan is a basic repayment plan where payments are fixed and made for no longer than 10 years.
Would you like to know more about this plan?
Yes, that would be very helpful.
The Standard Repayment Plan gives you the benefit of paying off your loans in a shorter amount of time, so that you pay the least amount of interest on your loan.
Are Direct Subsidized Loans eligible for the repayment plan?
Yes, they are.
Will my monthly payments be higher than my current loan payments?
Yes, you will see a slight increase in your monthly payments. However, this allows you to pay off your loan faster.
How else can a Standard Repayment Plan benefit me?
As I've mentioned before, your payments will be slightly higher, but you end up paying less interest. This will allow you to save money in the long run.
How does the plan work with consolidation loans?