Payments are made for up to 25 years
Do you need to make lower monthly payments over a longer period of time?
No, not for now
ok I have a problem If I am an FFEL borrower, but to qualify for this plan, must I not have had an outstanding balance on a FFEL Program loan?
Correct FFEL Program dates must be October 7, 1998, or the date you obtained a FFEL Program loan after October 7, 1998 and you must have more than $ 30,000 in outstanding FFEL Program loans.
I understand, but if I need to make lower monthly payments for a longer period of time than in plans like the Standard Payment Plan,
then the Extended Payment Plan may be right for you.
If I want to be chosen for the Extended Repayment Plan and I am a Direct Loan borrower, what should I consider?
note that you must have had no outstanding balance on a Direct Loan as of October 7, 1998, or on the date you obtained a Direct Loan after October 7, 1998, and you must have more than $ 30,000 in outstanding direct loans
how are the monthly payments?