Good to know, and regarding the gradual payment plan, for what types of loans can I be eligible with this type of plan?
The following loans from the William D. Ford Federal Direct Loan Direct Program and the FFEL Federal Family Education Loan Program are eligible for the Graduated Repayment Plan:
Alright. About the PAYE and IBR Plans. Is there a case if I have an outstanding Direct Loan balance?
If you have an outstanding balance on a Direct Loan or FFEL program loan when you received a loan on or after Oct. 1st 2007, you will not qualify for the PAYE plan.