>	Standard Repayment Plan. Under this plan, your monthly payment will remain the same over your entire repayment period. The repayment period on a standard repayment plan is typically 10 years. If you can afford the monthly payments, this is your most economical choice among repayment alternatives.
>	Extended Repayment Plan. This plan is similar to the standard repayment plan, but allows a loan term of up to 25 years. When payments are paid over a longer period, the monthly payment is lower but the total amount repaid over the lifetime of the loan is higher. To qualify, your first Stafford or PLUS federal loan must have been received on or after 10/07/98 and your accumulated FFELP loan balance must exceed $30,000.
>	Graduated Repayment Plan. This plan begins with lower payments for the first two years covering interest only. Beginning in the third year, payments increase and remain the same for the remainder of the loan term. This plan is meant to help make it easier to pay back your loan as you start your career.
>	Income-sensitive Repayment Plan. This plan ties the size of your monthly payment to your income level, with annual adjustments to the amount of your payment. Your monthly payment is adjusted based on your current income and student loan debt. Unpaid interest will continue to be added to your loan which increases the amount of debt owed. This plan is arranged through your loan servicer.
	Loan forgiveness. Under certain circumstances, the federal government may cancel all or part of an educational loan. This practice is called Loan Forgiveness. To qualify, you must: Perform volunteer work Perform military service Teach or practice medicine in certain types of communities Meet other criteria specified by the forgiveness program Details can be found through the Department of Education or through your servicer. Helpful links: http://www.studentaid.ed.gov/PORTALSWebApp/students/english/cancelstaff.jsp http://www.finaid.org/loans/forgiveness.phtml

For more information on standard, extended, graduated and income-sensitive repayment plans, please call our Education Loan Specialists at 800.552.3006.