Federal student loans offer fairly flexible repayment terms, including 10-year fixed repayment, graduated repayment, or
income-based repayment for up to 25 years. To find out more about repayment options for Federal Direct Loans,
contact the Federal Student Aid Information Center at 1-800-4-FED-AID (1-800-433-3243), or visit Direct Loans.
Federal loans offer other benefits. For example, students working in public service or in the military may be eligible for
loan forgiveness. Or, if students have special circumstances, such as going back to school, losing a job, getting married, or
having a child, they may be able to apply for forbearance or deferment. Check with the lender for details.
Private alternative loan repayment terms vary by lender.
All borrowers of federal loans must complete exit counseling before repayment begins. For the Federal Direct Stafford or
PLUS Loans, exit counseling is completed online at www.studentloans.gov.
For Federal Perkins Loans, exit counseling is completed in person at ISU's Office of the Controller.
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