A repayment plan is an agreement between a borrower and a lender that outlines the terms of how the loan will be paid back. This plan typically includes the repayment schedule, the interest rate, and any fees or charges associated with the loan. It can also include information about any options for loan forgiveness, deferment, or forbearance. A repayment plan is an important document for a borrower, as it lays out the terms of the loan and helps them to plan for the future.