Under the Standard Repayment Plan, your monthly payments are a fixed amount of at least $50 each month made for up to 10 years (not including periods of deferment or forbearance). This repayment plan saves you money over time because your monthly payments may be slightly higher than payments made under other plans, but you’ll pay off your federal student loan in the shortest time. For this reason, you will pay the least amount of interest over the life of your federal student loan.
Jason is the founder of phroogal, creator of the award winning project Road to Financial Wellness, and author of the bestseller and New York Times reviewed book, You Only Live Once. Jason is a world traveler, certified yoga teacher, and breath work specialist.