Federal loans have a number of set repayment plans that borrowers are able to choose from.
The Standard plan is made up of equal monthly payments over a ten-year timeline to pay off your loans. (The Standard plan timeline for consolidated loans is longer.) Borrowers can request other plans like Extended, Graduated, or Extended Graduated to pay over a longer timeline or to pay less on their loans now and more as time goes on.
There are also a number of income-driven repayment plans that use a borrower’s discretionary income to calculate a monthly payment that can be as low as zero dollars.