Student Loan Repayment Loan Form Testing

Payback Playbook
You have the right to choose a different repayment plan.
Your current plan

Option 1: Less now, more later

Option 2: Income driven

Fixed Repayment (10 year)

Graduated Repayment

Pay As You Earn (PAYE)

10 years of monthly payments
that stay the same each year

10 years of lower monthly
payments based on your
remaining loan balance;
payments increase over time

Up to 20 years of monthly
payments based on your
family size and income, then
any remainder is forgiven

MONTHLY PAYMENT

MONTHLY PAYMENT

MONTHLY PAYMENT

PAYMENTS REMAINING

PAYMENTS REMAINING

PAYMENTS REMAINING

Monthly payment starts low
($152/mo) and increases
gradually over time ($455/mo);
the highest payment is your last
one at payoff

Based on your current income
of $29,457 and family size of
two; payments will never be
higher than $271.54; if you
recently lost your job or make
less than $23,895, payments
may be as low as $0

$271.54

112 payments
(9 years, 4 months)

$152.00

$45.00

112 payments
(9 years, 4 months)

Up to 232 payments
(19 years, 4 months), then the
loan balance is forgiven

There’s never a fee to change your repayment plan
Keep in mind that switching plans for one with a lower monthly payment
often means paying more over the life of your loan.
Explore repayment plans

Enroll in a new plan

To learn more about your repayment options,
including details about other plans, total loan costs,
and how changing plans could affect your taxes,
visit studentaid.ed.gov/repay-loans.

To sign up for a different repayment plan for free,
visit studentloans.gov or call Acme at 555-555-2200.

Consumer Financial
Protection Bureau

Learn more at cfpb.gov/payback-playbook

Payback Playbook
As of February 10, 2016, your account is 90 days overdue.

You can lower your payments with a new repayment plan
You have the right to switch to the Pay As You Earn (PAYE) repayment plan,
which has a lower monthly payment based on your income and family size.

Pay As You Earn (PAYE)
HOW IT WORKS

Up to 20 years of monthly
payments based on your
family size and income, then
any remainder is forgiven

MONTHLY PAYMENT

PAYMENTS REMAINING

$45.00

Based on your current income of
$29,457 and family size of two;
payments will never be higher
than $271.54; if you recently
lost your job or make less than
$23,895, payments may be as
low as $0

Up to 232 payments
(19 years, 4 months), then
the loan balance is forgiven

There’s never a fee to change your repayment plan
Keep in mind that switching plans for one with a lower monthly payment
often means paying more over the life of your loan.
Explore repayment plans

Enroll in a new plan

To learn more about your repayment options,
including details about other plans, total loan costs,
and how changing plans could affect your taxes,
visit studentaid.ed.gov/repay-loans.

To sign up for a different repayment plan for free,
visit studentloans.gov or call Acme at 555-555-2200.

Consumer Financial
Protection Bureau

Learn more at cfpb.gov/payback-playbook