Extended Repayment Plans for Federal Direct and FFEL Student Loans

Extended Repayment Plans for Student Loans

Overview of The Extended Repayment Plan

The Extended Repayment Plan can make repaying your eligible federal student loans by providing a longer period of time over which you may repay your loans.

While extending the repayment period may make your payments lower, it will also increase your total cost of borrowing because you will be paying interest during the lengthened repayment term.

However, you are free to change repayment plans at any time by contacting your loan servicer. For example, you may find that your income increases during repayment and you can now afford the Standard Repayment Plan.

You can contact your servicer and switch. By doing so, you will shorten the remaining time on your loan and decrease the overall interest you pay. Of course, your monthly payment will increase.

 Eligible Federal Loans for Extended Repayment Plans for Student loans

  • Direct Subsidized Loans
  • Direct Unsubsidized Loans
  • Direct PLUS Loans
  • Direct Consolidation Loans
  • FFEL Stafford Loans
  • FFEL PLUS Loans
  • FFEL Consolidation Loans*

*FFEL loans were discontinued on July 1, 2010.  

Eligibility to Repay Under the Extended Plan

Direct Loan borrowers must have had no balance on a Direct Loan as of October 7, 1998, or on the date you received a Direct Loan after October 7, 1998. You must have more than $30,000 in Direct Loan debt.

For borrowers under the old FFEL program, you must have no balance on a FFEL loan as of October 7, 1998, or on the date you received a FFEL loan after October 7, 1998.

You must have more than $30,000 in FFEL debt. Your debt on either your Direct Loans or FFEL program loans is exclusive of the other such that you must have at least $30,000 for each program in order for that program's debt to qualify for extended repayment.  

Monthly Payments

Your monthly payment will be either fixed or graduated and made over the course of up to 25 years. Your monthly payment will be at least $50. You can estimate your monthly payment using our student loan payment calculator. Use our free LoanFinder to find, compare and apply for private student loans!