What are the advantages of the Standard Repayment Plan when repaying a Federal Direct Loan or FFEL Program Loan?
The Standard Repayment Plan saves you money in the long term as your monthly repayments may be slightly higher through this plan than others. This means that your loan will be repaid over a shorter term, which in turn means that you will pay less interest over the life of the loan
That was one of the things that worried me the most about how much I was going to pay for the loan, but if they are going down great. Can you tell me what the income-based plan is?
It is primarily about providing the lowest payment amount, consult your business manager for advice on the matter.