How long will my consolidation loan be for?

Consolidations have a minimum of 10 years and a maximum of 30 year term.  What determines it is the amount of eligible debt a borrower has at the time of consolidation.

Loan Balance Repayment Term
Less than $7,500 10 years
$7,500 to $9,999 12 years
$10,000 to $19,999 15 years
$20,000 to $39,999 20 years
$40,000 to $59,999 25 years
$60,000 or more 30 years

This chart is only relevant for the Level and Graduated plans.  Plans that are based on your income are not affected by your loan debt.  You will pay the amount determined by your income (you reapply annually)  until the loan payoff or until your forgiveness date (20 or 25 years depending on loan type and age) is achieved.

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