What are the repayment options for a Stafford Loan?

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  • Fixed interest rate - as low as 4.66%
  • No payments while in school at least half-time

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The standard repayment term for this loan is 10 years. You may be able to extend repayment by deferring or consolidating your loans.

You can choose one of the following plans:

  • The Standard Repayment Plan requires you to pay a fixed amount each month based on your principle and interest but will be no less than $50 or the interest that has accrued.
  • The Graduated Repayment Plan allows you to make a monthly payment that starts out low and then increases over time until the loan is paid in full. The required monthly payment is calculated based on your loan debt and interest rate, but it will never be less than the amount of interest that accrues each month.
  • The Income-Based Repayment Plan bases your monthly payment on your yearly income and your loan amount. Payments may change as your income rises or falls.
  • The Extended Repayment Plan is for borrowers with loans totaling more than $30,000. This plan offers a choice of fixed or graduated payments over a period of up to 25 years.

»Learn more about your repayment options

To consolidate your loans, please visit our federal student loan consolidation page.

Please note that the types of repayment plans listed above are subject to approval by your lender.

Stafford Loan Frequently Asked Questions