Important Announcements

Starting on July 1, 2026, the interest rate reduction for borrowers enrolled in Auto Pay will go from 0.25% to 1%. This reduction is a temporary benefit available through June 30, 2028. Learn more and enroll by 11:59 p.m. ET on Sept. 30, 2026.

On March 10, 2026, a court order ended the Saving on a Valuable Education (SAVE) Plan. If you are enrolled in the SAVE plan we will notify you between July 1st and August 15th, and you will have 90 days from the date the notification is sent to choose a different repayment plan. For more information, visit StudentAid.gov/courtactions or visit StudentAid.gov/repayment-calculator to explore and apply for other repayment plans.

On Oct. 30, 2025, the U.S. Department of Education published final Public Service Loan Forgiveness (PSLF) program regulations that will be effective on July 1, 2026. We’ll provide updates when the regulations are implemented. For now, there are no impacts to borrowers, payment counts, or discharges. Visit StudentAid.gov/publicservice for more information about PSLF and current program requirements. For more information about employer eligibility, visit StudentAid.gov/pslf/employer-search. To apply for PSLF, use the PSLF Help Tool at StudentAid.gov/pslf. 

Edfinancial Updates

Independence Day Holiday Closing: Our offices will be closed on Friday, July 3rd, in observance of Independence Day. Please note this may result in a higher-than-average call volume following the holiday. We apologize for any inconvenience. You can access your account information 24 hours a day by logging into your online account. 

Repayment Plan Comparison

Repayment Plan Eligible Loans Monthly Payment and Loan Term Important Plan Details
Tiered Standard Plan
  • Direct Loans
  • PLUS Loans
  • Consolidation Loans
  • Payments are a fixed amount of at least $50 per month.
  • Payment period is based on the total outstanding principal balance when enrolled in the plan.
  • Available if you have at least one loan first disbursed on or after July 1st, 2026.
  • The only plan available for Direct Parent PLUS Loans and Direct Consolidation Loans with underlying Direct Parent Plus Loans first disbursed on or after July 1st, 2026.
Standard Repayment
  • Direct Loans*
  • FFELP Loans*
  • PLUS loans*
  • Consolidation Loans*
  • Payments are a fixed amount of at least $50 per month.
  • Up to 10 years (up to 30 years for consolidation loans).
  • Available only if all your loans are first disbursed prior to July 1, 2026, or if they do not qualify for the Tiered Standard or RAP plans.
  • You’ll pay less interest for your loan over time under this plan than you would under other plans.
Graduated Repayment**
  • Direct Loans*
  • FFELP Loans*
  • PLUS loans*
  • Consolidation Loans*
  • Payments are lower at first and then increase, usually every two years.
  • Up to 10 years (up to 30 years for consolidation loans)
  • Available only if all your loans are first disbursed prior to July 1, 2026, or if they do not qualify for the Tiered Standard or RAP plans.
  • You’ll pay more interest for your loan over time than under the 10-year Standard plan.
Extended Repayment**
  • Direct Loans*
  • FFELP Loans*
  • PLUS loans*
  • Consolidation Loans*
  • Payments may be fixed or graduated.
  • Up to 25 years
  • Available only if all your loans are first disbursed prior to July 1, 2026, or if they do not qualify for the Tiered Standard or RAP plans.
  • You must have more than $30,000 in outstanding Direct Loans or more than $30,000 in FFELP Loans to be eligible for this plan.
  • You’ll pay more interest for your loan over time.
Repayment Assistance Plan (RAP)
  • Direct Stafford
  • Direct Grad PLUS
  • Direct Consolidation Loans that didn’t repay Parent PLUS loans
  • A percentage of your adjusted gross income (AGI), up to 10%, and reduced by $50 for each dependent on your federal tax return
  • Total monthly payment may not be less than $10
  • Repayment term is 30 years
  • The only Income-Driven Repayment plan available if you have at least one loan first disbursed on or after July 1st, 2026.
  • If you have not repaid your loan in full after making the equivalent of 30 years of qualifying monthly payments, any outstanding balance on your loan will be forgiven.
Income-Based Repayment (IBR)
  • Direct Stafford
  • Direct Grad PLUS
  • Direct Consolidation Loans that didn’t repay Parent PLUS loans
  • FFEL Stafford
  • FFEL Grad PLUS
  • Direct Consolidation Loans with underlying Parent PLUS Loans disbursed prior to 7/1/26 can qualify for IBR after 1 full payment on the ICR plan.
If consolidated prior to July 1, 2026:
  • Federal Perkins Loans
  • Repayment term is 20 years of qualifying payments if you’re a new borrower on or after July 1, 2014.
  • Repayment term is 25 years of qualifying payments if you’re not a new borrower on or after July 1, 2014.
  • If you have not repaid your loan in full after making the equivalent of 20-25 years of qualifying monthly payments, any outstanding balance on your loan will be forgiven.
Pay As You Earn (PAYE)
  • Direct Stafford
  • Direct Grad PLUS
  • Direct Consolidation Loans that didn’t repay Parent PLUS Loans
Eligible if consolidated prior to July 1, 2026:
  • FFEL Stafford
  • FFEL Grad PLUS
  • FFEL Consolidation Loans that didn’t repay Parent PLUS loans
  • Federal Perkins Loans
  • 10 % of your discretionary income but never more than the 10-year Standard repayment plan amount.
  • Repayment term is 20 years.
  • Available only if all your loans are first disbursed prior to July 1, 2026.
  • You must be a new borrower on or after Oct. 1, 2007, and must have received a disbursement of a Direct Loan on or after Oct. 1, 2011.
  • You must have a partial financial hardship.
  • Your monthly payments will be lower than payments under the 10-year Standard plan.
  • If you have not repaid your loan in full after you made the equivalent of 20 years of qualifying monthly payments, any outstanding balance on your loan will be forgiven.
Income-Contingent Repayment (ICR)
  • Direct Stafford
  • Direct Grad PLUS
  • Direct Consolidation Loans (including those that repaid a Parent PLUS Loan*)
Eligible if consolidated prior to July 1, 2026:
  • Direct PLUS Loans
  • FFELP Stafford
  • FFELP Grad PLUS
  • FFELP Parent PLUS
  • FFELP Consolidation Loans (including those that repaid a Parent PLUS Loan)
  • Federal Perkins Loans
 Your payment is the lesser of:
  • 20 percent of your discretionary income or,
  • What you would pay on a repayment plan with a fixed payment over the course of 12 years, adjusted according to your income.
  • Repayment term is 25 years.
  • Available only if all your loans are first disbursed prior to July 1, 2026.
  • This is the only IDR plan available for Parent PLUS borrowers. Parent PLUS Loans must have been consolidated into a Direct Consolidation Loan prior to July 1, 2026 in order to be repaid under ICR.
  • If you do not repay your loan after making the equivalent of 25 years of qualifying monthly payments, the unpaid portion will be forgiven.
Income-Sensitive Repayment (ISR)
  • FFELP Loans
  • FFELP PLUS Loans
  • FFELP Consolidation Loans
  • Your monthly payment is based on your annual income but is no less than your monthly interest accrual.
  • Your payments change as your income changes.
  • You may repay on ISR for a maximum of 5 years.
  • You’ll pay more for your loan over time than you would under the 10-year Standard plan.

* If all loans were disbursed prior to 7/1/26

** Some loans that first entered repayment prior to July 1, 2006 may be eligible for an extended term.


Do you need a lower monthly payment?

Read more about the different Lower Payment Options or use the Loan Simulator tool on StudentAid.gov to see which plan is right for you.

Lower Payment Options Loan Simulator

Below you will find descriptions and requirements for each available repayment plan. Not sure of your loan type?



Frequently Asked Questions

Log into your online account to explore various repayment options and to see if you qualify for a reduced payment. You may also contact us for assistance.

If your account is placed on a new repayment option, you will receive a notice by mail or email regarding the details of your new repayment schedule.

In general, the lower your monthly payment, the more interest you will pay over the life of your loan(s). Student loans accrue interest on a daily basis, so the longer you take to pay it back, the more interest you will accrue. You can use the Loan Simulator on StudentAid.gov to determine the amount of interest you would repay under various repayment plans.

Loan Simulator

Need help?

We Are Here For You

Representatives are available Monday 8:00 a.m. – 9:00 p.m., Tuesday – Wednesday 8:00 a.m. – 8:00 p.m, Thursday – Friday 8:00 a.m. – 6:00 p.m. Eastern Time