Can I prolong my student loan repayment period?

Federal student loans have some repayment plans that under specific terms can extend your repayment duration to up to 30 years.

Y. from Utah, $17.5 of student loan debt

Extending the repayment period is available for some types of loans. For example, for borrowers with eligible loans of over $30,000 dollars, it is possible to extend the repayment period to up to 25 years. However, extending your repayment period will also increase your total cost of debt.

Use Money Compass debt optimization feature to check which repayment plan is best for you.

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