Graduated repayment

Graduated repayment allows Stafford, Parent PLUS, Graduate PLUS, and Federal Consolidation loans to be repaid with reduced payments that may be as low as interest only.

In addition, many of the Sallie Mae private student loans first disbursed before June 1, 2009 are also eligible for graduated repayment. Interest-only payments may be requested for up to four years (five years for Federal Consolidation loans) followed by standard payments of principal and interest for the remaining repayment term.

Keep in mind that reduced payments will increase the total cost since the loan principal is repaid more slowly.

Terms and conditions apply. Partial or full prepayment is allowed at any time without penalty. Eligibility for a graduated repayment plan may vary depending on loan type, interest rate, outstanding balance, and repayment time remaining.

Note: Most Sallie Mae private student loans first disbursed June 1, 2009 and later require monthly interest-only payments during the in-school and separation periods. Check the terms of your loan's Promissory Note and go to Account Summary to see if your loan status shows repayment. If so, and you are enrolled in school, then you are not eligible for other repayment options at this time.