Sure, no problem. The standard repayment plan is the basic repayment plan there is.
Are you looking information about how are fixed the payments?
Yes, I'm looking information about that too.
Great! You need to know that the payments are fixed and made up to be for up 10 years and even 30 years, paying the less amount of interest over the the life of your loan.
This proposal needs more detail, so I need to learn more about it. What if I have loans from the FFEL Program that aren't owned by ED?
You should then contact your lender of the loans.
ok, something else, regarding FFEL Consolidation Loans, how much do I have to pay? How is the mechanism at the time of consolidating my loan?
For this plans you will hay to pay at least $50 every month for 10 years for all loans.
That's great to hear! Another loan paymnet related issue. I see what you mean. What if I'm unable to make any payments at all?
In that case, you have to contact with your loan servicer to find out your options.
Okay, that's it. The direct loan is also something I'd like to know. That appears to be rational. But how do I know if I'm eligible for one of these loans?
You can use the loan simulator to estimate your eligibility and choose the loan repayment plan that better suits you.
This is for all the loans?
Yes, it is, except for the direct consolidation loans and feel consolidation loans.
I see, so if I take one of those I have to pay much more?