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Extended Graduated Repayment Plans

While the extended graduated repayment plan comes with lower monthly payments, you’ll end up paying much more interest over time compared to other plans.

Eric Rosenberg Eric Rosenberg Edited by Ashley Harrison Updated October 6, 2021

Our goal is to give you the tools and confidence you need to improve your finances. Although we receive compensation from our partner lenders, whom we will always identify, all opinions are our own. Credible Operations, Inc. NMLS # 1681276, is referred to here as "Credible."

If your student loan payments are difficult to keep up with, a repayment plan that makes your payments as low as possible might be a good idea.

The extended graduated repayment plan does this by spreading your payments out over 25 years — but it’s not always the right choice for everyone.

Here’s what to know if you’re considering the extended graduated repayment plan:

  • What is an extended graduated repayment plan?
  • What’s the difference between extended repayment plans and extended graduated repayment plans?
  • Benefits and risks to extended graduated repayment plans
  • Alternatives to extended graduated repayment plans
  • Consider refinancing your student loan

What is an extended graduated repayment plan?

The extended graduated repayment plan combines features of both the graduated repayment plan and the extended repayment plan.

The extended graduated repayment plan offers:

  • A 25-year repayment period with monthly payments
  • Payments that start small and increase every two years
  • Relief for those with a student loan balance of $30,000 or more

Keep in mind that while the extended graduated repayment plan lowers your payments, it generally leads to higher interest costs over time.

The table below shows how your payments might look under the extended graduated repayment plan. The numbers used are based on the average cumulative debt for graduate students and Parent PLUS Loans based on data from the National Center for Education Statistics for undergraduate and graduate borrowers.

Subsidized and unsubsidized undergrad loansUnsubsidized graduate loansParent PLUS Loans
Starting balance$30,000*$70,980$32,600
Starting monthly payment$113$360$194
Payment at 10 years$166$472$241
Payment at 15 years$194$526$263
Payment at 25 years$284$690$327
Total repayment$54,856$150,333$75,562
*The average federal student loan balance for bachelor’s degree graduates ($27,050) is lower than the minimum balance to qualify for the extended graduated repayment plan, so a $30,000 starting balance was assumed.

What’s the difference between extended repayment plans and extended graduated repayment plans?

The extended repayment plan and extended graduated repayment plan both offer a 25-year repayment term with lower monthly payments.

Some of the differences include the following:

  • With an extended repayment plan, you’ll have a fixed monthly payment, while the extended graduated repayment plan has payments that start low and go up every two years.
  • You’ll pay more interest on the extended graduated repayment plan than you would on the extended repayment plan.

For example, if you’re an undergraduate borrower with $40,000 in federal student loans, you’d pay about $6,000 more over time on the extended graduated repayment plan. You’d also wind up with a much higher monthly payment toward the end of repayment.


Extended graduated repayment plan

Extended repayment plan
Starting balance$40,000$40,000
First monthly payment$151$223
Final monthly payment$379$223
Total repayment$73,146$66,904

Benefits and risks to extended graduated repayment plans

Before choosing an extended graduated repayment plan, be sure to consider the benefits and risks.

Benefits

  • Access to lower monthly payments: On an extended graduated repayment plan, your payments will likely go down right away. However, this also means you’ll end up with much higher payments at the end of the 25-year repayment period.

Risks

  • Higher payments at the end of the repayment term: Although having a lower payment can be tempting to avoid student loan default, keep in mind that your monthly payments will be much higher when you finish than when you start.
  • Might have payments you can’t afford: If your income doesn’t go up as you expect it to, you could get stuck with high monthly payments that you can’t afford. If this is a possibility for you, an income-driven repayment plan could be a better idea than a graduated plan.
  • Higher interest charges: You might end up spending thousands more on interest over the life of your loan if you choose an extended graduated repayment as your initial lower monthly payment will pay off less principal each month.

Learn More: How Often Can You Refinance Student Loans?

Alternatives to extended graduated repayment plans

While the extended graduated repayment plan might save you money today, it’s often a poor decision in the long run because of the higher payments and interest charges you’ll end up with.

Other repayment plans also qualify for student loan forgiveness programs that the extended graduated repayment plan doesn’t.

Here are some alternatives to the extended graduated repayment plan that typically come with a lower total cost:

  • Revised Pay As You Earn (REPAYE): As long as you have federal Direct Loans, you can sign up for the REPAYE plan. Under REPAYE, your payments are limited to 10% of your discretionary income, and any remaining balance is forgiven after 20 or 25 years, depending on whether you have undergraduate or graduate loans.
  • Income-Based Repayment (IBR): If you took out federal student loans on or after July 1, 2014, your payments will be limited to 10% of your discretionary income under IBR (15% if you took out loans before that). You’ll also need to demonstrate a partial financial hardship to qualify for IBR. Any remaining balance will be forgiven after 20 years.

If you have multiple loans, you could also consider combining them into a federal Direct Consolidation Loan or through private student loan consolidation.

Just keep in mind that if you consolidate with a private student loan, you’ll be giving up your federal benefits, such as access to income-driven repayment plans.

Learn More: Federal Student Loan Repayment Options

Consider refinancing your student loan

Another option is student loan refinancing. When you refinance your student loans, you pay off your old loans with a new private student loan. This could help you get a lower interest rate or monthly payment.

You might have to pay a little more upfront or per month if you refinance your student loans, but you could still end up saving thousands of dollars over the life of the loan.

Before you refinance: Make sure you’ll be able to afford the monthly payments over the life of your refinanced loan.

Also keep in mind that when you refinance federal student loans, you’ll be giving up federal benefits, including deferment and forbearance options, income-driven repayment, and student loan forgiveness.

Learn More: Private Student Loan Repayment Options

If you decide to refinance your student loans, be sure to consider as many lenders as possible to find the right loan for you. Credible makes this easy — you can compare rates from our partner lenders in the table below in just a few minutes. The lenders shown here compensate Credible.

LenderVariable rates from (APR)Fixed rates from (APR)

brazos student loan refinance

Credible Rating
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.
View details
4.79%+ 4.4%+
  • Fixed APR: 4.4%+
  • Variable APR: 4.79%+
  • Min. credit score: 720
  • Loan amount: $10,000 to $400,000
  • Loan terms (years): 5, 7, 10, 15, 20
  • Repayment options: Military deferment, forbearance
  • Fees: Late fee
  • Discounts: Autopay
  • Eligibility: Must have a credit score of at least 720, a minimum income of $60,000, and must be a resident of Texas
  • Customer service: Email, phone
  • Soft credit check: 720
  • Cosigner release: No
  • Loan servicer: Firstmark Services
  • Max. Undergraduate Loan Balance: $100,000 - $149,000
  • Max. Graduate Loan Balance: $200,000 - $400,000
  • Offers Parent PLUS Refinancing: Does not disclose


Credible Rating
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.
View details
6.26%+1 5.39%+1
  • Fixed APR: 5.39%+1
  • Variable APR: 6.26%+1
  • Min. credit score: Does not disclose
  • Loan amount: $10,000 to $750,000
  • Loan terms (years): 5, 7, 10, 15, 20
  • Repayment options: Immediate repayment, academic deferment, military deferment, forbearance, loans discharged upon death or disability
  • Fees: Late fee
  • Discounts: Autopay, loyalty
  • Eligibility: Must be a U.S. citizen or permanent resident and have at least $10,000 in student loans
  • Customer service: Email, phone, chat
  • Soft credit check: Yes
  • Cosigner release: After 24 to 36 months
  • Loan servicer: Firstmark Services
  • Max. Undergraduate Loan Balance: $100,000 to $149,000
  • Max. Graduate Loan Balance: Less than $150,000
  • Offers Parent PLUS Refinancing: Yes


Credible Rating
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.
View details
5.99%+2 5.99%+2
  • Fixed APR: 5.99%+2
  • Variable APR: 5.99%+2
  • Min. credit score: Does not disclose
  • Loan amount: $5,000 to $300,000
  • Loan terms (years): 5, 7, 10, 12, 15
  • Repayment options: Military deferment, forbearance, loans discharged upon death or disability
  • Fees: Late fee
  • Discounts: Autopay
  • Eligibility: All states except for ME
  • Customer service: Email, phone, chat
  • Soft credit check: Yes
  • Cosigner release: After 24 to 36 months
  • Loan servicer: College Ave Servicing LLC
  • Max. Undergraduate Loan Balance: $100,000 to $149,000
  • Max. Graduate Loan Balance: Less than $300,000
  • Offers Parent PLUS Refinancing: Yes

edvestinu student loan refinance

Credible Rating
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.
View details
7.41%+5 7.41%+5
  • Fixed APR: 7.41%+5
  • Variable APR: 7.39%+5
  • Min. credit score: 700
  • Loan amount: $7,500 to $200,000
  • Loan terms (years): 5, 10, 15, 20
  • Repayment options: Immediate repayment, academic deferment, forbearance, loans discharged upon death or disability
  • Fees: None
  • Discounts: Autopay
  • Eligibility: Must be a U.S. citizen or permanent resident and submit two personal references
  • Customer service: Email, phone
  • Soft credit check: Yes
  • Cosigner release: After 36 months
  • Loan servicer: Granite State Management & Resources (GSM&R)
  • Max. Undergraduate Loan Balance: $150,000 to $249,000
  • Max. Graduate Loan Balance: $150,000 to $199,000
  • Offers Parent PLUS Refinancing : Yes


Credible Rating
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.
View details
4.78%+3 5.08%+3
  • Fixed APR: 5.08%+3
  • Variable APR: 4.78%+3
  • Min. credit score: 680
  • Loan amount: $10,000 to $250,000
  • Loan terms (years): 5, 7, 10, 12, 15, 20
  • Repayment options: Forbearance
  • Fees: None
  • Discounts: None
  • Eligibility: Must be a U.S. citizen or permanent resident, have at least $15,000 in student loan debt, and have a bachelor’s degree or higher from an approved school
  • Customer service: Email, phone
  • Soft credit check: Yes
  • Cosigner release: No
  • Loan servicer: Mohela
  • Max. Undergraduate Loan Balance: $250,000
  • Max. Graduate Loan Balance: $250,000
  • Offers Parent PLUS Refinancing: Yes


Credible Rating
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.
View details
6.61%+4 5.61%+4
  • Fixed APR: 5.61%+4
  • Variable APR: 6.61%+4
  • Min. credit score: 670
  • Loan amount: $5,000 to $250,000
  • Loan terms (years): 5, 10, 15, 20
  • Repayment options: Academic deferment, military deferment, forbearance
  • Fees: Late fee, returned payment fee
  • Discounts: Autopay
  • Eligibility: Must be U.S. citizen or permanent resident
  • Customer service: Email, phone, chat
  • Soft credit check: Yes
  • Cosigner release: Yes
  • Max undergraduate loan balance: $250,000
  • Max graduate loan balance: $250,000
  • Offers Parent PLUS refinancing: Yes


Credible Rating
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.
View details
4.76%+ 4.49%+
  • Fixed APR: 4.49%+
  • Variable APR: 4.76%+
  • Min. credit score: 700
  • Loan amount: $5,000 to $300,000
  • Loan terms (years): 5, 7, 10, 15
  • Max. undergraduate Loan Balance: $125,000
  • Time to Fund: 10 to 30 days
  • Repayment options: Immediate repayment, forbearance
  • Fees: Late fee
  • Discounts: Autopay
  • Eligibility: Must be a U.S. citizen or permanent resident and have already graduated with at least an associate degree from an eligible institution
  • Customer service: Email, phone
  • Soft credit check: Yes
  • Cosigner release: After 12 months
  • Loan servicer: LendKey Technologies Inc.
  • Max. graduate Loan Balance: $175,000
  • Credible Review: LendKey Student Loans review
  • Offers Parent PLUS Refinancing: No


Credible Rating
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.
View details
N/A 5.5%+
  • Fixed APR: 5.5%+
  • Variable APR: N/A
  • Min. credit score: 670
  • Loan amount: $10,000 up to the total amount
  • Loan terms (years): 7, 10, 15
  • Repayment options: Military deferment, loans discharged upon death or disability
  • Fees: None
  • Discounts: None
  • Eligibility: Must be a U.S. citizen or permanent resident and have at least $10,000 in student loans
  • Customer service: Email, phone
  • Soft credit check: Yes
  • Cosigner release: No
  • Loan servicer: AES
  • Max. Undergraduate Loan Balance: No maximum
  • Max. Gradaute Loan Balance: No maximum
  • Offers Parent PLUS Refinancing: Yes


Credible Rating
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.
View details
5.34%+ - 10.29%+ 7.06%+ - 13.72%+
  • Fixed APR: 5.34%+ - 10.29%+
  • Variable APR: 7.06%+ - 13.72%+
  • Min. credit score: 680
  • Loan amount: $5,000 to $500,000 (depending on degree)
  • Loan terms (years): 5, 7, 10, 15, 20, 25
  • Time to fund: 3 business days
  • Repayment options: Immediate, payment extension, reduced payment plan, rate reduction, term modification, extended grace period, interest only, rate and term modification, hardship forbearance, natural disaster forbearance, military forbearance, academic deferment
  • Fees: Late fee, NSF fee
  • Discounts: Autopay
  • Eligibility: Must be a U.S. citizen or have permanent residency status with a valid U.S. Social Security number
  • Customer service: Email, phone
  • Soft credit check: Yes
  • Cosigner release: After 24 months
  • Loan servicer: Firstmark Services
  • Max. undergraduate loan balance: $125,000
  • Max. graduate loan balance: $500,000
  • Offers Parent PLUS loans: Yes
  • Min. income: $36,000


Credible Rating
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.
View details
N/A 5.29%+
  • Fixed APR: 5.29%+
  • Variable APR: N/A
  • Min. credit score: 680
  • Loan amount: $7,500 to $250,000
  • Loan terms (years): 5, 10, 15
  • Repayment options: Academic deferment, military deferment, forbearance, loans discharged upon death or disability
  • Fees: None
  • Discounts: Autopay
  • Eligibility: Available in all 50 states; must also have at least $7,500 in student loans and a minimum income of $40,000
  • Customer service: Email, phone
  • Soft credit check: Does not disclose
  • Cosigner release: No
  • Loan servicer: Rhode Island Student Loan Authority
  • Max. Undergraduate Loan Balance: $150,000 - $249,000
  • Max. Graduate Loan Balance: $200,000 - $249,000
  • Offers Parent PLUS Refinancing: Yes
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Eric Rosenberg
Eric Rosenberg

Eric Rosenberg is an expert on personal finance. His work has been featured at Business Insider, Investopedia, The Balance, The Huffington Post, MSN Money, Yahoo Finance, Mint.com and more.

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