What's the standard repayment plan?

Federal Direct loans default to a 10-year Standard Repayment plan with fixed monthly payments. Income-Driven Repayment plans (SAVE, IBR, PAYE) stretch payments based on income — useful for short-term cash flow but usually cost more total interest.

Should I refinance federal student loans?

Refinancing into a private lender can lower the rate, but you LOSE federal protections: income-driven repayment, PSLF forgiveness, deferment/forbearance, and the death/disability discharge. Only refinance federal loans if you have stable high income, no plan to pursue forgiveness, and the rate gap is meaningful (1%+).

How do extra payments work?

Federal loan servicers must apply extra payments to principal if you explicitly request it (write 'apply to principal, not future payments' in the memo or use the servicer's online option). Otherwise some servicers credit it as an advance payment — the loan still accrues interest at the same rate.

Student Loan Payoff Calculator

Project your student loan payoff. See standard 10-year payments, the effect of extra monthly principal, and total interest savings.

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