• Extended plan payments may be made in a fixed amount or a graduated amount and ensure payment in full within 25 years .
• Income-based plans take 10-15 percent of your discretionary income and are recalculated each year . Once you are married , your spouse ’ s income will also be considered if filing jointly on tax returns . Any outstanding balance on the loan will be forgiven after 20-25 years . n Consolidate for ease . If you have multiple federal loans , consolidating them into one can make repayment easier . But there may be fees or other conditions associated with consolidating , so be sure to do your research . n Is forgiveness an option ? Some programs offer loan forgiveness if you meet certain criteria or work in a particular field . People in government , nonprofit , and other public-service jobs may have the remainder of their loans forgiven after 10 years of service . Additional forgiveness options are available for nurses , teachers , AmeriCorps and Peace Corps volunteers , and some state and private programs . n
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