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We're the Consumer Financial Protection Bureau (CFPB), a U.S. government agency that makes sure banks, lenders, and other financial companies treat you fairly.

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What is an Extended Repayment Plan for federal student loans?

Answer:

An Extended Repayment Plan enables you to extend the time you have to pay back your student loan from 10 years up to 25 years. 

If you have more than $30,000 in federal student loans, you may be eligible for the Extended Repayment Plan. If you extend the term of your loan, you will pay more interest over time, but your payments will be smaller.

Remember, you can always pay more than the amount due each month. If you can afford to do so, making extra payments will reduce the total interest you pay over the life of the loan.

There are some restrictions to enrolling in an Extended Repayment Plan, so contact your servicer for more details about converting to this plan.

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