how long does it take to pay back student loans

Best answer

20 years

People also ask

  • How long do you have to pay back private student loans?

  • Private student loans. Unlike federal student loans, there is no standard repayment schedule for private student loans. Generally speaking, many private student loans give you 120 months (10 years) to repay. However, some private student loan terms have you repay over 25 years.

  • How much should you pay in student loan repayments?

  • As a good rule of thumb, the monthly payment you should expect to be giving back to your lender will be about 1% of the loan balance at repayment. Under the graduated repayment plan, borrowers have up to 30 years to repay their federal student loans, depending on the amount borrowed.

  • How long does a pay as you earn repayment plan last?

  • With a Pay as You Earn Repayment Plan, you will have between 20 and 25 years to repay your loan. At the end of that time, if your loan has not been paid off, your loan will be forgiven.

  • What is a student loan repayment plan and how does it work?

  • A Standard Repayment Plan allows you to spread the cost of the loan over up to ten years, so each month for ten years, you will owe a set amount of money to your student loan. This repayment plan can take time, but it ultimately allows you to pay less money overall because of accumulating interest.

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