Direct Loan Repayment Information

Repayment Information

When it's time to start paying back your student loan, you will receive a document called a "Repayment Disclosure" from your lender/loan servicer. If you do not receive this document before you enter repayment, contact your lender/loan servicer as soon as possible. Your lender/loan servicer will be able to tell you when your first payment is due, the amount of your payment, and where to send it. You must begin repayment on time even if you do not receive a Repayment Disclosure.

You MUST pay back your loan even if you didn't graduate, did not finish your education within the regular time frame, aren't satisfied with the education you received, or can't find a job.

Repayment Plans

Decide which payment plan may work best for you (if you qualify).

Standard This is the plan most borrowers will have when they enter repayment, unless they request otherwise.
Graduated
This repayment plan was designed for borrowers who expect to make more money as they progress in their careers.
Pay As You Earn
(for Federal Direct Loan Program loans only)
This plan helps borrowers who may be experiencing financial hardship manage their monthly payments.
Income-Based (IBR) This plan helps borrowers who may be experiencing financial hardship manage their monthly payments.
Income-Contingent
(for Federal Direct Loan Program loans only)
This plan is designed to make repayment easier for students who pursue careers in fields that have lower salaries, for example, public service.
25-Year Extended Borrowers can make smaller monthly payments by extending the standard 10-year repayment term to 25 years.

For more information on repayment plans, click here.
For more information on making payments, click here.