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Repayment Options

Federal Direct Subsidized/Unsubsidized Loans

Repayment begins 6 months after graduation or when you drop below half-time. 
Repayment begins immediately after you drop below half time enrollment if you have already used your 6 month grace period.

Federal Direct PLUS Loans

Repayment begins 60 days after Fordham receives the final disbursement of your PLUS Loan. 
You can defer repayment of Direct PLUS Loans while the student for whom you obtained the loan is enrolled at least half time, and for an additional 6 months after the student graduates or drops below half-time enrollment (half-time enrollment status is determined by your child's school). 
Below is a brief description of repayment options. Please click on each plan for further details. Use the federal loan repayment comparison calculator to estimate what your monthly payment would be on different repayment plans.

Standard Repayment Plan

Repayment is up to 10 years and monthly payment is fixed.

Graduated Repayment Plan

Repayment is up to 10 years. Payments are lower at first then increase every two years.

Extended Repayment Plan

Repayment is up to 25 years. Payments may be fixed or graduated.

Pay As You Earn (PAYE)

You must be a new borrower on or after 10/1/2007. Repayment is up to 20 years. Your maximum monthly payments will be 10 percent of "discretionary income". Your payments change as your income changes. If you have not repaid your loan in full after making the equivalent of 20 years of qualifying monthly payments, any outstanding balance on your loan will be forgiven.

Revised Pay As You Earn (REPAYE)

Repayment is up to 20 years if all of your loans were received as an undergraduate, up to 25 years if any of your loans were taken as a graduate student.  Your maximum monthly payments will be 10 percent of "discretionary income". Your payments change as your income changes.   If you have not repaid your loan in full after making the equivalent of 20 or 25 years of qualifying monthly payments, any outstanding balance on your loan will be forgiven.

Income Based Repayment Plan (IBR)

Repayment is up to 25 years. Your maximum monthly payments will be 15 percent of " discretionary income". Your payments change as your income changes. If you have not repaid your loan in full after making the equivalent of 25 years of qualifying monthly payments, any outstanding balance on your loan will be forgiven.

Income Contingent Repayment Plan (ICR)

Repayment is up to 25 years. Payments are calculated each year and are based on your adjusted gross income, family size, and the total amount of your Direct Loans. If you have not repaid your loan in full after making the equivalent of 25 years of qualifying monthly payments, any outstanding balance on your loan will be forgiven.