Repay your Grad PLUS Loan


  • Repayment begins the date the loan is fully disbursed, with the 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 can request a deferment while in school and until 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 may be higher depending on your balance.
  • You may prepay your loan at any time without penalty. Prepayment may substantially reduce your interest costs.

Payment plans


  • Standard:
    • Minimum monthly payment is $50, but may be higher depending on balance
    • Maximum repayment period of 10 years
  • Graduated:
    • Begins with lower payment amounts that increase over time.
    • More interest will accrue over the life of the loan because the principal balance decreases at a slower rate.
  • Income-sensitive:
    • An adjusted payment amount based on gross income
    • Payment will be the greater of your monthly interest amount or 4 percent of your gross monthly income
    • Eligibility and payment amount verified annually
    • More interest will accrue 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
    • An adjusted payment amount based on income and family size
    • Payment will not be more than 15 percent of the amount by which your adjusted gross income exceeds 150 percent of the poverty line for your family size
    • Eligibility 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 will be forgiven
      • Very few borrowers will have a remaining balance after 25 years.
      • The amount that is forgiven may be taxable.
    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 deferment and forbearance!

Read more about Grad PLUS Loans.