Standard Repayment Plan

If you can afford your current or estimated monthly payments, this may be the right plan for you.

For Federal Loans
Under this plan you will pay a fixed monthly amount for a loan term of up to 10 years.

You will begin to make payments on both principal and interest as soon as you enter repayment with a minimum monthly payment of $50. The standard repayment plan offers the shortest loan term compared to other repayment plans, therefore, the total amount you will pay in interest on your loan will be the least of all of the repayment plans.

Student loans automatically default to the standard repayment plan. You will automatically be enrolled in this plan unless you select an alternative option.

For the Academic Answer Private Loan
This is the only plan offered for the Academic Answer private loan. Under this plan, your monthly payment will be variable and will depend on the interest rate and amount you owe. If the interest rate on your loan increases, you may have a corresponding increase in your loan payment. You will begin to make payments on both principal and interest as soon as you enter repayment with a minimum monthly payment.