What You Need To Know About The Standard Repayment Plan

If you do not choose a specific repayment plan when you take a federal student loan, the Standard Repayment Plan is considered as your default choice.

Three stack of coins with green shoots growing behind each stack.

Details of the Standard Plan

With a Standard Repayment Plan, you pay off your loans within 10 years. Under the terms of this plan, your entire loan (principal plus accrued interest) spreads equally across 120 months (10 years). The exact amount you pay every month will depend on the amount you borrowed. Regardless of the amount payable every month, you must pay a minimum monthly amount of $50.

Sallie Mae logo.

3 Repayment Options

Variable rates from 1.13% - 11.23% APR with auto-debit

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Alternate Repayment Plans

The Standard Repayment Plan offers borrowers affordable monthly payments without increasing the overall cost of the loan. However, you are not locked into this plan. If you struggle to make your monthly payments under this plan, you can switch to a different plan that allows you to make lower monthly payments by extending the life of the loan. Some alternatives to the Standard Repayment Plan include the Graduated Repayment Plan, Extended Repayment Plan, and Income-Based Repayment Plans.

You should know, lower payments ease your financial commitments for the moment. But, you will end up paying more by way of interest. Whether you should switch to another repayment plan will depend on your financial circumstances and your long term goals.

Use College Raptor’s free Student Loan Finder to compare lenders and interest rates side by side!


Lender Rates (APR) Eligibility
Sallie Mae logo.
1.13% - 11.23% Variable
3.50%- 12.60% Fixed
Undergraduate and Graduate
Credibe company logo.
0.99% - 11.99% Variable
2.94% - 12.99% Fixed
Undergraduate and Graduate
Lendkey company logo.
1.13% - 11.23% Variable
3.50% - 12.60% Fixed
Undergraduate and Graduate
Ascent company logo.
1.51% - 9.09% Variable
3.24% - 11.33% Fixed
Undergraduate and Graduate
College Ave company logo.
0.99% - 11.98% Variable
2.94% - 12.99% Fixed
Undergraduate and Graduate
2.93% - 5.67% Variable
4.35% - 7.15% Fixed
Undergraduate and Graduate
Earnest company logo.
0.99% - 11.44% Variable
2.94% - 12.78% Fixed
Undergraduate and Graduate
1.20% - 11.52% Variable
3.20% - 11.99% Fixed
Undergraduate and Graduate
College Raptor is not a loan lender and does not assume responsibility for suggesting a loan to a user who may not be eligible for it. Rates, terms, conditions, eligibility, approval, and other considerations are the decisions of the lenders and may vary depending on which lender or marketplace the user selects. We urge users to carefully consider and review all loan options and terms before committing to taking out a loan.

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