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Paying for School
Repaying student loans
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Which of these is not an income-based repayment plan?


The only one that’s not is the 10-year repayment plan.

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Which is one of the three circumstances under which you can defer your repayment?


Delayed payment is an option available to members of the military, those who’ve gone back to school or those suffering a financial hardship.

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Key Takeaways

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  • Pick a payment plan: standard, graduated and income-based are just a few of the options
  • Chose a plan based on how much you can afford or how quickly you want to pay it back. Standard plans offer a fixed monthly payment that aims to pay off the total in under 10 years whereas income-based plans are 10%-20% of your discretionary income over a longer period of time
  • Understand how the type of loans you have may impact your repayment, as well as the rules for delaying payments should the need arise
  • Many loans offer a “grace period” after graduating, when no payment is due
  • If you meet the requirements and need to do so, consider delaying repayment through deferment or forbearance—check out your options
  • Consider consolidation for a lower interest rate—but do your research first