Student Loan Repayment

Federal loans and Access Group private student loans

• Equal Repayment Plan
• Graduated Repayment Plan

Federal loans only

• Income-Sensitive Repayment Plan
• Extended Repayment Plan
• Federal Loan Consolidation

• Payment is fixed at a monthly amount (actual amount may vary as interest rate varies)
• Requires the highest initial monthly payment, but results in the lowest total cost in interest paid
• Length of repayment is 10 years

Note: For actual repayment amounts and schedule of your student loan payments, contact your lender or servicer.

• Monthly payments start lower and increase at scheduled intervals (early payments typically cover only interest charges)
• No monthly payment can be more than three times greater than any other monthly payment and each payment must at least equal the interest due
• Total finance charges are higher over the length of repayment than with the EasyPay Equal Plan
• Length of repayment is 10 years

• Access Group's Graduated Repayment Plans
  
  • EasyPay 2 Step
    Begins with payments of interest only for the first two years, followed by payments of interest and principal for the balance of the loan term.
  • EasyPay 3 Step
    Begins with payments of interest only for the first two years, followed by three years of payments of interest and partial principal, then concludes with payments of interest and principal for the balance of the loan term.
  
  

  Note: See how these graduated repayment options will affect your monthly payment by using our online advanced calculators.

• The borrower must request this plan from the holder/servicer and provide any requested income documentation
• Monthly payments are based on the borrower's expected total monthly gross income and are adjusted annually
• Monthly payments can be no less than the amount of accrued interest and no more than three times greater than any other payment
• Payment must equal interest charges
• Length of repayment is up to 15 years
• Offers the lowest possible monthly payments, but incurs the highest total interest paid

• Must have federal student loan debt in excess of $30,000
• Repayment can be extended over a maximum of 25 years using either an equal repayment plan or a graduated repayment plan
• Monthly payment is lower, but the overall cost is higher than with the 10-year equal or graduated repayment plans
• Alternative to a Federal Consolidation Loan for Stafford and PLUS loan borrowers seeking to lower their monthly payment while maintaining their lower interest rate

Note: The Extended Repayment Plan is available only to new federal student loan borrowers on or after October 7, 1998.

• Refinance federally-guaranteed loans into one new loan
• Interest rate is fixed and is equal to the weighted average of the interest rates of the loans being consolidated, rounded up to the next 1/8th%, not to exceed 8.25%
• Loans must be in grace or in repayment
• Length of repayment can be up to 30 years, depending upon outstanding balance of loan debt
• The equal, graduated, income-sensitive, and extended repayment options are available for Federal Consolidation Loans

Consolidation may not be the best repayment option. Learn why in this interview published by American Public Media.

Note: Access Group does not currently offer Federal Consolidation Loans.  However, you may contact the Department of Education for information about loan consolidation options available through the Direct Loan program.