Preparing for Successful Repayment
There are many options available to help borrowers manage student loan repayment. You may have questions, such as: Why is it important? Where do I begin? What is best for my situation? The good news is there are many resources available to help you make these important financial decisions. Review our Action Items checklist and begin planning your repayment strategy. Review our Financial Literacy section for details on budgeting, loan repayment, & managing your finances.
Loan Program Details
Understand the repayment terms, plans, and postponement options of each loan you have borrowed. The Loan Repayment Chart provides basic information about each program. The individual loan pages in this section offer more detailed information.
Loan Repayment Plans
The Federal Perkins Loan and all Brown Institutional Loans offer only one repayment plan. The loans have a 10-year repayment period and are paid in fixed monthly installments.
The Federal Direct Stafford and PLUS Loans offer many different repayment plans designed to fit different needs and income levels. There are resources and calculators available to help borrowers compare the costs of each plan. Borrowers must notify their federal loan servicer of the repayment plan they wish to select.
Postponing Loan Repayment
Under certain circumstances, you may apply for periods of deferment or forbearance that allow you to postpone loan repayment. The Deferment/Forbearance page in this section offers details of the postponement options available for each loan program.