Graduated Repayment Plan

If you expect your income to increase steadily over time, this plan may be right for you.

This repayment plan offers a lower monthly payment when you enter repayment with an increase after the first two years. You will only be required to make scheduled interest only payments* for the first two years of your loan. This means that your principal balance will not be reduced during the first two years. After that, the payments increase to cover both principal and interest. This plan can be especially helpful when you first graduate from college and are just getting started in your career.

Something to consider! Because no principal payments are made for the first two years, the total cost of the loan will be slightly higher than under a standard repayment plan. Also, once you begin making payments on both principal and interest, your payments will be higher than under the standard repayment plan. Be sure to choose the plan that makes sense for you.

* Or $50.00 whichever is greater