The Extended Repayment Plan is for those of you with more debt than you can manage. If you borrowed more than $30,000 in a combination of Federal Stafford, Grad PLUS, or Parent PLUS Loans and are current on all your federal loan payments, you are eligible for 25 years of extended repayment. This is a great plan to consider if you have a high amount of debt and would like to make smaller payments. Contact your federal servicer to request this plan. However, remember that the longer it takes to repay your loan, the more it ultimately costs you. To encourage on-time payment, .25% interest rate reduction is granted to borrowers for payments made through automatic debit.