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The table shown below is the maximum repayment period for Federal Debt Consolidation Loans. The maximum term selected is subject to your outstanding loan balances and to your desire to establish a repayment plan that suits your repayment objectives.
| $0 - $7,500 | 10 | 120 |
| $7,501 - $9,999 | 12 | 144 |
| $10,000 - $19,999 | 15 | 180 |
| $20,000 - $39,999 | 20 | 240 |
| $40,000 - $59,999 | 25 | 300 |
| $60,000 + | 30 | 360 |
You may choose from several repayment options:
- Fixed monthly payments of principal and interest for the entire repayment period.
- Graduated repayment schedule in which your payments will be smaller in the beginning of repayment, and gradually increase in stages over the life of the loan. With the graduated repayment option, your interest costs over the full life of the loan will generally be higher than if you select option A.
- Income-sensitive repayment schedule (in which your monthly payment amount will be adjusted each year based on your income) and an extended repayment plan (in which borrowers with debt between $30,000 and $60,000 may repay over a 25-year term) are also available to borrowers after you have consolidated your loan.
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