We are doing maintenance August 17-19, 2018. The process will start at 6 p.m. on Friday, August 17 and will be completed as soon as possible on August 18 or 19.

Repay your Direct PLUS Loan

Repay your Direct PLUS Loan

For graduate and professional students

  • Repayment begins the date the loan is fully disbursed, with your first payment due no more than 60 days later.
    • You can request a deferment while in school.
    • For loans first disbursed on or after July 1, 2008, you can request a deferment while you are in school and up to six months after you graduate, withdraw, or drop below half-time enrollment.
  • The maximum repayment period is 10 years.
  • Payments are expected each month.
  • The minimum monthly payment is $50, but this amount may be higher depending on your loan balance.
  • You may prepay your loan at any time without penalty. Prepayment may substantially reduce the amount of interest you pay.

Payment plans

Standard

  • Minimum monthly payment is $50, but this amount may be higher depending on loan balance
  • Maximum repayment period of 10 years

Graduated

  • Begins with lower payment amounts that increase over time
  • Maximum repayment period of 10 years
  • More interest accrues over the life of the loan because the principal balance decreases at a slower rate.

Income-contingent for Direct PLUS Loans

  • Adjusted payment amounts based on gross income and family size
  • Payments cannot be lower than your monthly interest amount
  • Eligibility and payment amount adjusted annually
  • More interest accrues over the life of the loan because the principal balance decreases at a slower rate.
  • If you do not repay your loan after 25 years, the unpaid portion is forgiven. You may have to pay income tax on any amount forgiven.

Income-sensitive for Federal PLUS Loans

  • Adjusted payment amounts based on gross income
  • Payment is the greater of your monthly interest amount or 4 percent of your gross monthly income
  • Eligibility and payment amount verified annually
  • More interest accrues over the life of the loan because the principal balance decreases at a slower rate.

Income-based

  • Available for payments made on or after July 1, 2009
  • Adjusted payment amounts based on income and family size
  • Payment is not more than 15 percent of the amount by which your adjusted gross income exceeds 150 percent of the poverty line for your family size
  • Payments re-evaluated annually
  • More interest may accrue over the life of the loan because the principal balance decreases at a slower rate.
  • Any outstanding loan balance after 25 years is forgiven
    • Very few borrowers will have a remaining balance after 25 years.
    • The amount forgiven may be taxable.
  • Estimate payment under the income-based repayment plan.

Extended

  • Available to new borrowers on or after October 7, 1998, who have a minimum balance of $30,000 in loans
  • Payment amounts can be either fixed annually or graduated
  • Maximum repayment term is 25 years
  • More interest may accrue over the life of the loan because the principal balance decreases at a slower rate.

If you ever have difficulty repaying your loan, contact your loan holder immediately, as you have options, including a change to your repayment plan, deferment, and forbearance!

Read more about Direct and Federal PLUS Loans for graduate and professional students.