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What is an Extended Repayment Plan for federal student loans?

An extended repayment plan enables you to lower your monthly payments on your federal student loan by extending 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 monthly payments will be smaller.

Learn more about the Extended Repayment Plan eligibility requirements

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 (e.g., this plan does not qualify for loan forgiveness programs), so contact your servicer for more details about converting to this plan.

As an alternative, an income-driven repayment plan may offer less restrictive options to lower your monthly payment.

Consider an income-driven repayment plan

If you are having trouble repaying your federal student loans, you may be eligible for a lower monthly payment, possibly as low as $0, through an income-driven repayment (IDR) plan. These plans allow repayment flexibility based on your income (or lack thereof). Contact your servicer to explore payment plans that might help to make your monthly payments more affordable before you enroll in a payment plan that spreads your payments out over a greater period.

Learn more strategies for managing student loans, including income-driven repayment.