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Under this plan, your monthly payments are: fixed or graduated; made for up to 25 years. You must have had no outstanding balance on a Direct Loan and /or an FFEL Program loan as of October 7, 1998, or on the date you obtained a Direct Loan and/or an FFEL Program loan after October 7, 1998, and you must have more than $30,000 in outstanding Direct Loans or $30,000 in FFEL Program loans. For example, if you have $35,000 in outstanding FFEL Loans and $10,000 in outstanding Direct Loans, you can choose the Extended Repayment Plan for your FFEL Loans, but not for your Direct Loans.
