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Your Payments

Repayment of most subsidized and unsubsidized Direct Loans begins six months after you have graduated, or are no longer enrolled in school at least half time. The period between those events and repaying your loan is a six-month grace period.

Borrowers of Parent PLUS and Grad PLUS loans may request deferment of repayment while either the borrower or the student for whom the loan was borrowed is enrolled at least half time and for six months thereafter.

Your loan servicer will contact you before your first loan payment is due. In addition, you will be provided with a choice of repayment plans, including: standard, graduated, extended, income-based repayment (IBR), pay-as-you-earn (PAYE), revised pay as you earn (REPAYE), income-contingent repayment (ICR) and an income-sensitive repayment plan.

  • Standard
  • Graduated
  • Extended
  • Income-based repayment (IBR)
  • Pay-as-you-earn (PAYE)
  • Revised pay-as-you-earn (REPAYE)*
  • Income-contingent repayment (ICR)
  • Income-sensitive repayment

*As of summer 2023, REPAYE is being phased out and will be replaced with the Saving for a Valuable Education (SAVE) repayment plan.

If you do not notify your loan servicer of your selected repayment plan, or do not provide the required documentation, your loan will be set up on a standard repayment schedule.

It is very important that you keep the loan servicer of your loan informed of your current address and contact information so that you will receive the repayment information.

The repayment schedule will reflect the total balance of your loan, your interest rate, the amount and due dates of your monthly payments based either on a standard repayment plan or the repayment plan you selected, and the address to which you must send your payments. Carefully review all the information on your repayment schedule to make sure that it is correct. If the information is not accurate, or you do not receive this document, contact your loan servicer.

You can learn about your federal student loan, including the total amount of your loans, through

It is in your best interest to pay your student loans in a timely manner.


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OCAP believes that financial literacy and understanding the financial aid process are critical aspects of college planning and student success. OCAP staff who work with students, parents, educators and community partners in the areas of personal finance education, state and federal financial aid, and student loan management do not provide financial, investment, legal, and/or tax advice. This website and all information provided is for general educational purposes only, and is not intended to be construed as financial, investment, legal, and/or tax advice.