Options for paying back private student loans are set by each lender, so it's important to understand the repayment process before you take out your loan. Our Loan Payment Calculator can help you estimate your monthly payments and decide what you can afford to borrow.

Repayment Period

Repayment periods for private student loans are typically 7-15 years. Some lenders offer extended repayment periods of up to 30 years, depending on the amount of debt. Loans with fixed interest rates usually have shorter repayment periods than loans with variable interest rates.

Repayment Plans

Private student loan lenders may offer several plans to choose from. Here are some common examples:


Repayment Difficulties

If you're having trouble making your private student loan payments, your lender may offer a program that can help. (Some examples appear below.) Contact your lender immediately to find out what may be available.


Many lenders will offer reduced or delayed payments during a short-term period if you experience a financial difficulty. A partial forbearance allows the borrower to make interest-only payments for a year or two.

Death and Disability Discharges

Some lenders will discharge a private student loan in the event the primary borrower becomes totally and permanently disabled. In addition, some lenders will forgive any unpaid balance in the event of a primary borrower's death.


You can refinance your private student loans to extend your loan term and possibly qualify for a lower interest rate. Compare your private student loan consolidation options at StudentLoanConsolidator.com.