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Repayment Plans

Standard repayment plan

The Standard Repayment Plan offers a fixed payment amount each month until your loans are paid in full. Monthly payments are a minimum of $50, with a maximum term of 30 years to repay your loans with a fixed interest rate. The standard plan does not account for your finances.

Graduated Repayment plan

The Graduated plan offers monthly payments that start out low and will increase every 2 years. This is a good plan for individuals who expect their income to increase steadily over time. The maximum term is 30 years to repay this loan. Monthly payments are never less than the amount of interest that accrues between payments.

Income contingent repayment plan (ICR)

The Income Contingent Repayment (ICR) plan is designed to make repaying education loans easier for students who intend to pursue jobs with lower salaries, such as careers in public service. It does this by pegging the monthly payments to the borrower’s income, family size, and total amount borrowed.

Pay as you earn (Paye)

The PAYE Plan is a financial hardship program. PAYE caps monthly payments for Federal Direct Student Loans at 10% of discretionary income to make them affordable based on annual income as well as state of residency. Payments are recalculated once a year.If filing a tax return as Married Filing Jointly, your spouse’s income will be include in the calculation to determine your monthly payment. The maximum term for this plan is 20 years.

Parent PLUS Loans are not eligible to be included in a PAYE Plan.

This Plan may offer forgiveness to qualified candidates. Contact us for more information.

***For a list of eligible loans click the button below:

Disclaimer: Riverwalk Debt Solutions is a private company and is not a branch of or affiliated with the Department of Education nor is it endorsed by any Federal, State, or Local government agency. RWDS is a document management and processing organization that prepares documents for consolidation through the Department of Education.

RWDS is not a bank or lender and does not underwrite loans, create or make loans, negotiate with lenders, pay off debts, negotiate debts, alter debts or decrease interest rates and principal balances on any types of loans.

To facilitate paperwork for a borrower or client through the Department of Education, we will need to get permission to access, review and store the borrowers/clients 4 digit Federal Pin Number. We will not certify to false or misleading information regarding a borrower or clients PIN Number.
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