Extended Repayment for Federal Student Loans

Extended repayment offers a level payment plan for some types of federal student and parent loans, with a fixed monthly payment for the duration of the repayment term, but with a longer repayment term than under standard repayment.

Extended repayment has a $50 minimum monthly loan payment.

Extended repayment offers one of the lowest monthly payments, other than the repayment plans based on income.

Repayment Term

There are two types of extended repayment. One version of extended repayment is available only for federal consolidation loans. It bases the repayment term on the loan balance, according to the following chart for loans entering repayment on or after July 1, 2006.

Extended Repayment for Direct Consolidation Loans
Loan Balance Repayment Term Number of Payments
< $7,500 10 years 120
$7,500 to $9,999 12 years 144
$10,000 to $19,999 15 years 180
$20,000 to $39,999 20 years 240
$40,000 to $59,999 25 years 300
$60,000 or more 30 years 360

The other version offers a 25-year repayment term for new borrowers as of October 7, 1998 who have more than $30,000 in federal student loan debt. This version of extended repayment does not require consolidation.

Student Loan Consolidation - Apply Today

Have you been employed for at least 2 years?
Do you currently have a credit score of at least 680?
Have you defaulted on your current loans?*

* Default = 270 days late/missed payment on a federal loan and typically 90 days late/missed payment on a private loan (contact your lender for exact definition of default).

Impact of Repayment Term on Loan Payments

Extended repayment yields a more affordable monthly loan payment, but increasing the repayment term also increases the total payments over the life of the loan. For example, increasing the repayment term from 10 years to 20 years on a 6.8% rate loan will cut the monthly payment by a third, but more than double the total interest paid over the life of the loan.

This chart shows the monthly payments for each $20,000 in student loan debt under extended repayment for various interest rates and repayment terms. Extended repayment can reduce the monthly payment by as much as half of the monthly payment under standard repayment. To calculate the monthly payment for a different loan balance, multiply the monthly loan payment by the ratio of the loan amount to $20,000.

Please note that these charts show the monthly payments without regard to repayment term restrictions or minimum monthly loan payments.

Monthly Payments for $20,000 in Student Loan Debt

Interest Rate
Repayment Term 3% 4% 5% 6% 7% 8% 9% 10%
10 years $193.12 $202.49 $212.13 $222.04 $232.22 $242.66 $253.35 $264.30
12 years $165.56 $175.11 $184.98 $195.17 $205.68 $216.49 $227.61 $239.02
15 years $138.12 $147.94 $158.16 $168.77 $179.77 $191.13 $202.85 $214.92
20 years $110.92 $121.20 $131.99 $143.29 $155.06 $167.29 $179.95 $193.00
25 years $94.84 $105.57 $116.92 $128.86 $141.36 $154.36 $167.84 $181.74
30 years $84.32 $95.48 $107.36 $119.91 $133.06 $146.75 $160.92 $175.51

This chart shows the total payments for $20,000 in student loan debt under extended repayment for various interest rates and repayment terms. Extended repayment can more than double the total payments over the life of the loan as compared with the total payments under standard repayment.

Total Payments for $20,000 in Student Loan Debt

Interest Rate
Repayment Term 3% 4% 5% 6% 7% 8% 9% 10%
10 years $23,175 $24,299 $25,456 $26,645 $27,866 $29,119 $30,402 $31,716
12 years $23,840 $25,215 $26,637 $28,104 $29,617 $31,175 $32,775 $34,418
15 years $24,861 $26,629 $28,469 $30,379 $32,358 $34,403 $36,514 $38,686
20 years $26,621 $29,087 $31,678 $34,389 $37,214 $40,149 $43,187 $46,321
25 years $28,453 $31,670 $35,075 $38,658 $42,407 $46,309 $50,352 $54,522
30 years $30,355 $34,374 $38,651 $43,168 $47,902 $52,831 $57,933 $63,185

Disclaimer: These charts provide estimates only. Borrowers should consult with their student loan servicers for a more precise estimate of monthly loan payments and the total amount that will be repaid based on their actual loan balances.

The Student Survival Guide: The perfect tool for navigating high school & college!
Try it!