Borrower Counseling Group
617.728.4200, ext. 5009
Mon - Thu: 8:00 a.m. - 10:00 p.m.
Fri: 8:00 a.m. - 5:00 p.m.
Sun: 11:00 a.m. - 10:00 p.m.
Please note: All times Eastern.
You can lower your federal student loan payments for awhile—without extending your repayment period—if you opt for graduated repayment. If you don’t make a lot of money—but think you will in the future—this plan might be right for you.
Remember, it may seem like a good option to pay a smaller amount now, but those payments will grow in the future. When choosing this schedule, make sure to plan for those larger payments.
How It Works
- Graduated repayment lets you pay just the interest on your loan for up to 4 years.
- Some servicers will increase your payments after 2 years.
- Payments then gradually increase so the loan is repaid in the same amount of time (10 years) as it would be under standard repayment.
- Graduated repayment can increase the total amount of interest you pay. This means your loan may cost more than if you repaid it under standard repayment.
See what your payments could look like under this schedule with our graduated repayment calculator.
Changing Your Repayment Schedule
Call your servicer to find out what you need to do to change your repayment plan. Your servicer may be able to make the change over the phone, or they may require you to fill out paperwork and provide documentation.
You can also contact American Student Assistance® (ASA) for help. Our counselors can help you determine the schedule right for you, and we can also call your servicer with you.