The amount of time you have to repay your loan depends on the type of loan, the amount you owe, and the repayment/refinancing plan you select.
Generally the length of repayment for the major education loan programs is listed below:
- Federal Stafford Loan - 10 years
- Federal PLUS Loan - 10 years
- Federal Perkins Loan - 10 years
- Federal Consolidation Loan - up to 30 years
- Access Group Private Loans - 20 years (for loans borrowed prior to May 1, 2008)
- Access Group CampusDoor Private Loans - up to 25 years1
- Loans from other lenders -
check your promissory note or disclosure statement
Extended repayment of up to 25 years may be available on federal student loans. See Repayment Options.
1The repayment period may be less than the 25-year maximum allowed depending on the borrower’s indebtedness at the beginning of his or her repayment period and the requirement that the borrower either satisfies a $50 minimum monthly payment amount (level schedule) or the terms of a graduated repayment schedule. |
