Repayment Options

With BrainScratch.com, you can choose a repayment plan that’s comfortable, including:

Fixed Repayment

Pay the same amount each month. The total repayment period can't exceed 10 years for any FFELP loan.  Your payment depends on how much you borrowed. Minimum monthly payment is $50.00.

Graduated Repayment

Payments for the first 12–24 months will be greater than or equal to the monthly interest accrual. The rest will depend on the current principal balance (how much you owe of what you originally borrowed). Once again, the total repayment period can't exceed 10 years Income-Sensitive Repayment

Income-Sensitive Repayment

Payments are based on your gross monthly income. Pay 4 percent of your gross monthly income, monthly interest accrual, or $16.67—which ever is larger. The payment amount is adjusted annually. You'll need proof of your monthly income.

Extended Repayment

If your first disbursement on a FFELP loan was made on or after October 7th, 1998, and accumulates FFELP loans totaling more than $30,000, you're eligible for this option. Choose either fixed or graduated repayment amounts and take up to 25 years to repay!

To help choose a repayment option, use the repayment, prepayment and capitalized interest calculators.

Have a repayment question? Contact us.