- Lisa Ericson
Why can’t I use the “Extended” repayment plan for my student loans?
Updated: Dec 8, 2019
The extended repayment plan allows borrowers to extend their repayment period for up to 25 years. However, you must have more than $30,000 in outstanding balance in order to be eligible.

V. from Alaska, $26.7K in student loans debt
V. is trying to lower his monthly payment due to an unemployment period. He thought that it would be a good idea to change his repayment to an "Extended" repayment. Fortunately for V., his remaining balance is $26.7 and not the $30K required for the extended repayment plan. Since V's problem is only temporary, it is wiser for him to put his loans in deferment status and not extend his repayment period, which will result ultimately in more interest payments.
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