Question 1

What is the standard student loan repayment plan?

Accepted Answer

The standard plan has fixed monthly payments over 10 years. It results in the lowest total interest paid but the highest monthly payment compared to income-driven plans.

Question 2

What is PSLF?

Accepted Answer

Public Service Loan Forgiveness (PSLF) forgives remaining federal student loan balances after 120 qualifying payments (10 years) while working full-time for a qualifying employer (government or 501(c)(3) nonprofit).

Question 3

Should I use income-driven repayment?

Accepted Answer

Income-driven plans (SAVE, PAYE, IBR, ICR) cap payments at 10-20% of discretionary income. They lower monthly payments but extend the loan term and increase total interest. Best for borrowers with high debt relative to income.

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