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When you are ready to begin repayment of your Direct student loans, you may choose from seven repayment plans, including:
Click here for more information about the available repayment plans
If a repayment plan is not chosen by the borrower, the borrower will be placed in the standard repayment plan. Borrowers may change repayment plans at anytime with certain restrictions. Borrowers may NOT change out of the income-based repayment plan.
Use the interactive calculator to determine your monthly payments under each of the repayment plans. View a sample of the monthly payments for the available repayment plans.
Borrowers may prepay all or part of the unpaid balance of a Direct loan at any time without penalty. See Repayment Tips section for instructions on paying down loan principal.
Monthly payments are sent to a designated post office box. Contact your loan servicer for the correct mailing address or to arrange for automatic payment.
If the monthly payments under the payment plans listed above are too expensive, consider other options such as loan consolidation; a general forbearance with reduced payments; or an alternative repayment plan by calling your loan servicer. Repayment options are also explained during an exit interview.