When you enter repayment on your loans, ask your loan holder about repayment plans and incentive offers. Federal student loans offer several different kinds of repayment plans:

• Standard Repayment Plan



• Extended Repayment Plan



• Graduated Repayment Plan



• Income Based Repayment (IBR) Plan



• Income Contingent Repayment (ICR) Plan (Direct Loans Only)



• Income-Sensitive Repayment Plan (FFELP Loans Only)



• Loan forgiveness

You are allowed to change your repayment plan at least once every 12 months. Your repayment plan will not change unless you request a change. If you do not choose a repayment plan when you first begin repayment, you will repay under the Standard Repayment Plan.