Loan Repayment/Consolidation

Helpful information for repaying, consolidating, or deferring your student loans.

Repayment Plans

You can accurately determine your future monthly payments on federal student loans based on your yearly income with the Student Loan Repayment Estimator.

Your lender will automatically set you up on the Standard Repayment Plan. You can contact them to discuss the possibility of changing your repayment plan.

Standard Repayment Plan
Monthly Payment amount(s) remain nearly the same for the duration of repayment period.

Graduated Repayment Plan
Payments are smaller at the beginning of repayment and gradually increase over time.

Extended Repayment Plan
Payments are smaller, but the repayment contract can be up to 25 years long.

Income Based Repayment (IBR)
Monthly payment is based on income and family size. Payments and term length vary.

Other repayment plans and information
Income Contingent Plan
Income Sensitive Plan
Pay-as-you-earn Plan
And other helpful information

Special Situations on Federal Student Loans


Deferments allow you to temporarily postpone the payment of your loan. Deferments are not automatic; you must apply and be approved by your lender.

For more information on FFEL and Federal Direct Loan deferment visit:
Federal Student Aid, Loan Deferment and Forbearance


If you do not qualify for a deferment, you may be eligible to request forbearance from your lender. Forbearance is the temporary postponement or reduction in your monthly payment. Interest continues to accrue during forbearance, increasing the loan balance. There are several different types of forbearance available, and forbearance must be approved by your lender.

For more information on FFEL and Federal Direct Loan forbearance visit:
Federal Student Aid, Loan Deferment and Forbearance

For private student loan deferments please contact your lender.

Loan Consolidation

Loan consolidation allows you to combine any or all of your outstanding federal student loans into a single new loan. New terms and conditions will apply to consolidated loans, so to determine if consolidating your loans is the way to go, remember to consider all the options:

  • Look at your payment options.
  • Estimate your monthly payment and repayment length.
  • Calculate your interest rate.
  • Find out the terms of a new consolidation loan.

For more in-depth information on FFEL and Federal Direct loan consolidation visit:

Avoid Defaulting on your student loans

If you fail to make the required payments on your loan(s) for a total of 270 days, your loan will go into Default, which has very serious consequences.

For more information visit: Federal Student Loan Default

If you have missed payments, or will have trouble making future payments, contact your lender immediately to avoid default.

Visit Federal Student Aid Forgiveness for information on federal student loan forgiveness.

Visit the National Student Loan Data System (NSLDS) to see your Federal Student Loan totals, you will need to use your FSA ID to access your loan history through NSLDS.