Yes the Graduated Repayment Plan starts with lower payments that increase every two years, and payments are made for up to 10 years between 10 and 30 years for consolidation loans.
Are you in a low paying job?
Yes and I was worried about being hampered by huge debt repayment.
Well if your income is low now but you expect it to increase steadily over time, this plan may be right for you.
May I ask another question about the life plan's interest? And how much would it cost me?
you will pay the least amount of interest over the life of your plan.
Good to know. Do you know this plan? Are all federal student aid eligible for this graduate rebate?
A list of loans from the William D. Ford Federal Direct Loan Program and the Federal Family Education Loan FFEL Program which are eligible for the Graduated Repayment Plan can be found here.
I'm looking for information on FFEL PLUS Loans. Are there any other types of loans that are available for this program?
FFEL Consolidation Loans are also eligible for the Income-Sensitive Repayment Plan.
another question about Eligible Federal Loans. Does the list include the Direct Subsidized Loans?
Yes it is eligible.
How often must I make a payment my loan?
You must make monthly payments.
Are there criteria for the amount that I must pay?