Easy Payment Options

Hey, we've been students, too – we know how hard it's been for you and we want to make paying your consolidation loan easy on you! Life and work are hard enough! You can choose the repayment plan that best fits your financial situation. Even better, you can change your plan without any extra cost or penalty!

Consolidation Loan Repayment Terms

Total Outstanding Student Loan Debt Maximum Repayment Term

$10,000 to $19,999 15 years
$20,000 to $39,999 20 years
$40,000 to 59,999 25 years
$60,000+ 30 years

Repayment Plan Options

Choose whichever repayment plan works best for you:

Equal Payments – Allows you to pay equal monthly payments over the term of the loan. Payments are applied toward principal and interest.
Graduated/Select 2 Payments – Allows you to make interest-only payments for the first two years of repayment. In the third year, payments increase to level installments of principal and interest payments for the remaining term of the loan.
Graduated/Select 5 Payments – Allows you to make interest-only payments for the first two years of repayment. In the third through fifth years, payments increase to include a portion of the principal. In the sixth year, payments increase to level investments of principal and interest payments for the remaining term of the loan.
Income-Sensitive Payments – Allows you to make payments that are adjusted annually based on your expected total monthly gross income from employment and all other sources. For spousal consolidation loans, monthly payments are adjusted according to combined monthly incomes. Your account will initially be disbursed as a Graduated/Select Payment Plan. After the consolidation loan is disbursed, you must contact our servicer to qualify. Once eligibility is determined, our servicer will calculate your new monthly payment.
Extended Equal Payments – Allows up to a 25-year repayment term of equal payments.

Note: This extended payment plan is only available to qualified borrowers with over $30,000 in eligible federal student loans.

Extended/Select 2 Payments – Allows up to a 25 year repayment term for graduated payments.

Note: This extended payment plan is only available to qualified borrowers with over $30,000 in eligible federal student loans.

Extended/Select 5 Payments – Allows up to a 25-year repayment term for graduated payments.

Note: This extended payment plan is only available to qualified borrowers with over $30,000 in eligible federal student loans.