Repayment Plan Spotlight: Level Repayment Plan

Here is a rundown on the Level Repayment plan to give you a better idea if it is the best option for you.

The Good:  Allows you to payoff your loan with the least amount of term and with the least amount of interest overall

The Bad: This plan will almost always have the highest payment amount of any of the options and may be unfeasible for borrowers especially starting out since it is the Standard Plan for all borrowers

Who it is good for: Any borrowers who can afford a standard 10-year payment under a normal schedule

Eligibility Requirements: Both Standard and FFELP loans are eligible. As the standard plan, pretty much anyone can qualify.  Even if your payment would be less your monthly payment cannot be less than $50.00

How do I apply: You don’t have to apply, since it is the Standard Plan.  You are also able to request to switch back to this plan at any point.