Standard Repayment

This is the default repayment plan for Federal Stafford, Grad PLUS, and Parent PLUS loans. With this plan you'll pay a fixed amount each month for 10 years, with minimum monthly payments of at least $50. The federal government offers a borrower benefit of .25% interest rate reduction for payments made through automatic debit to encourage borrowers to repay these loans in a responsible way. Because this plan has the shortest repayment period, it's the quickest way to pay back your debt.

Pro's

  • Default repayment plan for all federal loans
  • Quickest plan to repay loans
  • Payments eligible for Public Service Loan Forgiveness
  • No prepayment penalties

Con's

  • Minimum payment of $50
  • Does not consider income or family size to calculate the monthly payment