Standard Repayment

When your loans enter repayment, they are automatically enrolled in standard repayment. If you have trouble making your payments, you may be able to lower them by switching to a different repayment schedule.

Making your payments fit your life and circumstances is important. Just remember that lower payments may not cover the interest building up on your loan—or any part of the original loan amount (which is called your principal balance). So, over the life of your loan, you will likely pay less interest with standard repayment than with other repayment schedules.

How It Works

  • Under this schedule, you have 10 years to repay the total amount of your loan.
  • Your loan servicer (the company that sends you your student loan bill) determines your monthly bill.
  • They do this by splitting your loan amount into 120 equal payments (or 12 payments per year for 10 years).
  • Your payments pay off the interest building up each month, plus part of your original loan amount.

See what your payments could look like under this schedule with our standard repayment calculator.

Changing Your Repayment Plan

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.