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Q: Alernative Student Loans ( Answered 5 out of 5 stars,   1 Comment )
Subject: Alernative Student Loans
Category: Miscellaneous
Asked by: johnnyd7-ga
List Price: $30.00
Posted: 27 Jun 2003 13:22 PDT
Expires: 27 Jul 2003 13:22 PDT
Question ID: 222505
Used to be old Standard GSL's were 10 yr. payback at $125.00/$10,000 owed -
payable monthly.

I seem to see some 30 yr.payback schedules recently? Is this common?

Request for Question Clarification by gwagner-ga on 27 Jun 2003 15:21 PDT
Again, unfortunately no well-documented answer, but as far as I can
tell from my own experience, 30-year loans seem to be fairly common
now. Were you looking for anecdotal evidence like this or rather for
real statistics?


Clarification of Question by johnnyd7-ga on 27 Jun 2003 16:05 PDT
no, anectodal a little 'loose' for this one -
r 30 yr. schedules availabe to those who owe over a certain amount?

Clarification of Question by johnnyd7-ga on 01 Jul 2003 11:39 PDT
"Alternative Student Loans"
Subject: Re: Alernative Student Loans
Answered By: wengland-ga on 21 Jul 2003 12:21 PDT
Rated:5 out of 5 stars

The short answer is no, and yes.  No, the Stafford GSL does not offer
and 30 year term; the longest is 25 years.  Yes, you can get 30 year
terms with Federal Consolidation loans.  What follows is the long

From the Stanford Master Promisory Note paperwork I have to mail in
today, item 12 of the Borrower's Rights and Responsibilites Statement,
lists  4 different repayment plans:

First, the standard repayment plan, making fixed monthly payments over
10 years.

Second, the Graduated repayment plan, where you make smaller monthly
payments at first, then the payment amount rises over time.

Third, the Extended repayment plan, where you make fixed or graduated
payments over a period not to exceed 25 years.  The extended repayment
plan is only available if you have a loan balance exceeding  $30,000.

Fourth, the income-sensitive repayment plan, where the monthly
payments are adjusted annually, based on the expected total monthly
gross income.

So, in summary, the federal promisory note offers a 25 year repayment
plan.  Some lenders may offer longer terms, particularly third party
loan consolidators,  but the core Stafford Loan program is limited to
25 years.

A google search for 'stafford loan' turned up the following webpage,
which summarizes what is on my Master Promisory Note:

Searching for '30 year student loan repayment' on google turns up a
series of consolidation companies, all offering 30 year repayment
terms for loans over $60,000.

HigherEdLoans: from the Access Group:


Among others.

It appears that all of these companies are simply acting as agents of
the US Department of Education and their Federal Direct Consolidation
Loans program.  Information about this program is available at the
Department of Education website:

I hope this answers your question; if you need further information,
please ask for clarification.

Search Strategy:


Department of Education

30 year student loan repayment

stafford loan
johnnyd7-ga rated this answer:5 out of 5 stars
Beyond Outstanding.
Where can I access a 25 yr re-payment table?? (for amounts over 65K)?

Subject: Re: Alernative Student Loans
From: neilzero-ga on 28 Jun 2003 06:40 PDT
Length of loan and rate are somewhat dependent on the amount owed, as
most lenders give preference to large loans. I understand it is often
wise to refinance student loans now, but that window may close June
30th.   Neil

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