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When do you have to pay back federal student loans


For most federal student loan types, after you graduate, leave school, or drop below half-time enrollment, you have a six-month grace period (sometimes nine months for Perkins Loans) before you must begin making payments.

How long do you have to pay off federal student loans?

The Standard Repayment Plan is the basic repayment plan for loans from the William D. Ford Federal Direct Loan (Direct Loan) Program and Federal Family Education Loan (FFEL) Program. Payments are fixed and made for up to 10 years (between 10 and 30 years for consolidation loans).

Are student loans forgiven after 20 or 25 years?

Any outstanding balance on your loan will be forgiven if you haven't repaid your loan in full after 20 years (if all loans were taken out for undergraduate study) or 25 years (if any loans were taken out for graduate or professional study).

Do you have to pay off student loans in 10 years?

On a Standard Repayment Plan, your payments are a fixed amount that ensures your loans are paid off within 10 years. 2. On a Graduated Repayment Plan, your payments are lower at first and then increase, generally every two years, and are for an amount that will ensure your loans are paid off within 10 years. 3.

Are student loans forgiven after 15 years?

Revised Pay As You Earn (REPAYE) works much the same way as Pay As You Earn. Under this plan, your payments will be capped at 10% of your discretionary income. Undergraduate loans are forgiven after 20 years, while graduate school loans are forgiven after 25 years.




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