What repayment terms are available for a consolidation loan?
You may choose from the following available repayment options: Standard repayment You pay the same amount each month for the term of your loan. See below for maximum repayment time. Graduated repayment Your payments increase gradually, starting with lower monthly payments and increasing until loan is paid within the maximum repayment time. Income-sensitive repayment Your annual income determines the amount of your monthly payments along with the total amount that you owe. This option works best for those who expect their monthly income to increase over time. Extended repayment You may repay over a 25-year period on a standard or graduated repayment plan if the total of your existing FFELP loans is over $30,000.
