Understanding Loan Repayment Plans

Student borrowers may repay their student loans through one of several repayment plans. Below is a list of each type of plan. Click on each type of plan to read about how each type differs and decide which one is best for you:

Loan Consolidation

If you have multiple federal student loans, you may also want to consider loan consolidation – the process of combining one or more loans into a single new loan. Some of the benefits of consolidation are:

  • One lender and one monthly payment
  • Flexible repayment options
  • Lower monthly payment
  • It’s free to consolidate

Understand Your Entitlements

  • Deferments
  • Forebearances
  • Discharges
  • Forgiveness Programs