Form 1845-0014 RPS

REPAYMENT PLAN REQUEST:

OMB No. 1845-0014
DRAFT FORM
Standard Repayment Plan/Extended Repayment Plan/Graduated Repayment Plan
Exp. Date XX/XX/XXXX
William D. Ford Federal Direct Loan (Direct Loan) Program
RPR
WARNING: Any person who knowingly makes a false statement or misrepresentation on this form or on any accompanying
document is subject to penalties that may include fines, imprisonment, or both, under the U.S. Criminal Code and 20 U.S.C. 1097.

SECTION 1: BORROWER INFORMATION
Please enter or correct the following information.
Check this box if any of your information has changed.
SSN
Name
Address
City

State

Zip Code

Telephone - Primary
Telephone - Alternate
Email (Optional)
SECTION 2: REPAYMENT PLAN REQUEST
1. Choose one of the following:
I want to select a plan for all of my Direct Loans.
I want to select a plan for only my Direct Loans that are not eligible for the Income-Based Repayment (IBR), Pay As You
Earn, Revised Pay As You Earn (REPAYE), or Income-Contingent Repayment (ICR) plans. The following loans are not
eligible for these plans:
• Direct Parent PLUS Loans: not eligible for IBR, Pay As You Earn, or ICR.
• Direct Consolidation Loans made on or after July 1, 2006 that repaid Direct Parent PLUS Loans or Federal Parent PLUS
Loans: not eligible for IBR, Pay As You Earn, or REPAYE. These loans are eligible for ICR.
• Direct Consolidation Loans made before July 1, 2006 that repaid Direct Parent PLUS Loans or Federal Parent PLUS
Loans (these are called "Direct PLUS Consolidation Loans"): not eligible for IBR, Pay As You Earn, REPAYE, or ICR.
2. Check the box for the repayment plan that you wish to select:
These plans are described in Section 5. Sample payment amounts for each plan are provided in Section 7.
Standard

Graduated

Extended - Fixed Payments

Extended - Graduated Payments

Note: If you are interested in the IBR, Pay As You Earn, REPAYE, or ICR Plan, visit StudentLoans.gov to read or complete the
application and contact your servicer or visit StudentAid.gov to learn more. To help you compare these plans to the
Standard, Graduated, and Extended plans, sample payment amounts for the IBR, Pay As You Earn, and ICR Plans are
provided in Section 7.
SECTION 3: BORROWER UNDERSTANDINGS, CERTIFICATIONS, AND AUTHORIZATION
• I understand that: (1) I must choose the same repayment plan for all of my Direct Loans unless I want to repay my loans
under the IBR, Pay As You Earn, REPAYE, or ICR Plan and I have some loans that may not be repaid under those plans. In
this case, I may select the IBR, Pay As You Earn, REPAYE, or ICR plan for the loans that are eligible for those plans by
submitting the IBR/Pay As You Earn/REPAYE/ICR Request, and may select a different repayment plan for the loans that
may not be repaid under IBR, Pay As You Earn, REPAYE, or ICR. (2) If I am beginning repayment of my loans for the first
time and I do not select a repayment plan, I will be placed on the Standard Repayment Plan. (3) If I am delinquent in
making payments under my current repayment plan at the time I request to change to a different plan, my servicer may
grant me a forbearance to cover any payments that are overdue at the time I enter the repayment plan I selected in
Section 2. Unpaid interest that accrues during this forbearance period may be capitalized at the end of the forbearance
period.
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SECTION 3: BORROWER UNDERSTANDINGS, CERTIFICATIONS, AND AUTHORIZATION (CONTINUED)
• I certify that: (1) The information I have provided on this form is true and correct; and (2) I have read and understand the
terms and conditions of the repayment plan that I requested in Section 2, as explained in Section 5.
• I authorize the U.S. Department of Education (and its agents or contractors) to contact me regarding my request or my
loan(s), including repayment of my loan(s), at the number that I provide on this form or any future number that I provide
for my cellular telephone or other wireless device using automated telephone dialing equipment or artificial or
prerecorded voice or text messages.
Date

Borrower's Signature
SECTION 4: INSTRUCTIONS FOR COMPLETING THE FORM

Type or print using dark ink. Enter dates as month-day-year (mm-dd-yyyy). Use only numbers. Example: January 31, 2019 =
01-31-2019. If you need help completing this form, contact your federal loan servicer. If you want to apply for a repayment
plan and your Direct Loans are serviced by different federal loan servicers, you must submit a separate repayment plan
request to each loan servicer.
Return the completed form and any required documentation to the address shown in Section 6.
SECTION 5: REPAYMENT PLAN DESCRIPTIONS
STANDARD REPAYMENT PLAN

EXTENDED REPAYMENT PLAN

Under this plan, you will have a payment schedule to pay a
fixed amount each month over the course of your maximum
repayment period in an amount that will ensure that your
loan is fully repaid by the end of your repayment period.
This plan may result in lower total interest paid when
compared to other plans. For Direct Subsidized Loans,
Direct Unsubsidized Loans, and Direct PLUS Loans, the
maximum repayment period is 10 years. For Direct
Consolidation Loans, the maximum repayment period
ranges from 10 to 30 years, depending on loan debt.
GRADUATED REPAYMENT PLAN

• You may choose this plan only if (1) you had no
outstanding balance on a Direct Loan on October 7, 1998
or on the date you obtained a Direct Loan after that date,
and (2) you owe more than $30,000 in outstanding Direct
Loans.
• Under this plan, you have the option of making either
fixed or graduated payments over your maximum
repayment period. Your scheduled payment amount will
ensure that your loan is fully repaid by the end of your
repayment period. If you choose graduated payments,
your payments start out low and then increase every two
years.
• Under either the fixed or graduated monthly payment
option, the Extended Repayment Plan will give you a
lower monthly payment on your non-consolidation loans
than the Standard or Graduated Repayment Plans.
However, because of the longer repayment period, you
will pay more interest over the life of your loans.
• For all loan types, the maximum repayment period is 25
years.
See Section 7 for sample repayment amounts under each
of these repayment plans.

Under this plan, your payments start out low and then
increase every two years. No single payment under this plan
will be more than three times greater than any other
payment. Your scheduled payment amount will ensure that
your loan is fully repaid by the end of your repayment
period. Generally, the amount you will repay over the life of
your loan will be higher under this plan than under the
Standard Repayment Plan. This plan may be beneficial if
your income is low now but is likely to steadily increase. For
Direct Subsidized Loans, Direct Unsubsidized Loans, and
Direct PLUS Loans, the maximum repayment period is 10
years. For Direct Consolidation Loans, the maximum
repayment period ranges from 10 to 30 years, depending on
loan debt.
SECTION 6: WHERE TO SEND THE COMPLETED FORM
Return the completed form and any required documentation to:
(If no address is shown, return to your loan servicer.)

Paying an amount greater than the scheduled payment
under any of these plans may result in a different
maximum total repayment amount and a shorter
repayment period.
If you need help completing this form call:
(If no telephone number is shown, call your loan servicer.)

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SECTION 7: SAMPLE PAYMENT AMOUNTS
The tables below provide repayment estimates under the traditional and income-driven repayment plans. These figures are estimates based on an interest rate of
6%, the average Direct Loan interest rate for undergraduate and graduate borrowers. The figures also assume a family size of 1, that you live in the continental U.S.,
and that your income increases 5% each year. Various factors, including your interest rate, your loan debt, your income, if and how quickly your income rises, and
when you started borrowing may cause your repayment to differ from the estimates shown in these tables. These figures use the 2019 Poverty Guidelines and
Income Percentage Factors
Table 1. Non-Consolidation, Undergraduate Loan Debt of $30,000
in Direct Unsubsidized Loans and Starting Income of $25,000

Table 2. Non-Consolidation, Graduate Loan Debt of $60,000 in
Direct Unsubsidized Loans and Starting Income of $40,000

Repayment Initial
Final
Time in
Plan
Payment Payment Repayment

Repayment Initial
Final
Time in
Plan
Payment Payment Repayment

Total
Paid

Loan
Forgiveness

Total
Paid

Loan
Forgiveness

Standard

$333

$333

10 years

$33,967

N/A

Standard

$666

$666

10 years

$79,935

N/A

Graduated

$190

$571

10 years

$42,636

N/A

Graduated

$381

$1,143

10 years

$85,272

N/A

-

-

-

-

$437

$437

25 years

$130,974

N/A

-

-

-

-

$300

$582

25 years

$126,168

N/A

ExtendedIneligible
Fixed
ExtendedIneligible
Graduated

ExtendedFixed
ExtendedGraduated

PAYE

$52

$282

20 years

$35,369

$30,631

PAYE

$177

$598

20 years

$84,968

$45,346

REPAYE

$52

$282

20 years

$35,369

$26,681

REPAYE

$185

$755

25 years

$127,850

$5,215

IBR

$78

$318

$63,688

$0

IBR

$266

$666

ICR

$179

$231

$54,280

$0

ICR

$459

$578

23 years, 3
months
20 years, 11
months

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18 years, 11
$110,400
months
13 years, 6
$91,275
months

$0
$0

SECTION 8: IMPORTANT NOTICES
Privacy Act Notice. The Privacy Act of 1974 (5 USC 552a)
requires that the following notice be provided to you:
The authority for collecting the requested information from
and about you is §421 et seq., §451 et seq., and/or §461 et
seq. of the Higher Education Act (HEA) of 1965, as amended
(20 USC 1071 et seq., 20 USC 1087a et seq., and/or 20 USC
1087aa et seq.), and the authorities for collecting and using
your Social Security Number (SSN) are §484(a)(4) of the HEA
(20 USC 1091(a)(4)) and 31 USC 7701(b). Participating in the
Federal Family Education Loan (FFEL) Program, William D.
Ford Federal Direct Loan (Direct Loan) Program, and Federal
Perkins Loan (Perkins) Program and giving us your SSN are
voluntary, but you must provide the requested information,
including your SSN, to participate.
The principal purposes for collecting the information on this
form, including your SSN, are to verify your identity, to
determine your eligibility to receive a loan or a benefit on a
loan (such as a deferment, forbearance, discharge, or
forgiveness) under the FFEL Program, Direct Loan Program,
and/or Perkins Program, to permit the servicing of your
loan(s), and, if it becomes necessary, to locate you and to
collect and report on your loan(s) if your loan(s) become
delinquent or in default. We also use your SSN as an account
identifier and to permit you to access your account
information electronically.

institutions to efficiently submit student enrollment status,
disclosures may be made to guaranty agencies or to
financial and educational institutions. To counsel you in
repayment efforts, disclosures may be made to guaranty
agencies, to financial and educational institutions, or to
federal, state, or local agencies.
In the event of litigation, we may send records to the
Department of Justice, a court, adjudicative body, counsel,
party, or witness if the disclosure is relevant and necessary
to the litigation. If this information, either alone or with
other information, indicates a potential violation of law, we
may send it to the appropriate authority for action. We may
send information to members of Congress if you ask them
to help you with federal student aid questions. In
circumstances involving employment complaints,
grievances, or disciplinary actions, we may disclose relevant
records to adjudicate or investigate the issues. If provided
for by a collective bargaining agreement, we may disclose
records to a labor organization recognized under 5 USC
Chapter 71. Disclosures may be made to our contractors for
the purpose of performing any programmatic function that
requires disclosure of records. Before making any such
disclosure, we will require the contractor to maintain Privacy
Act safeguards. Disclosures may also be made to qualified
researchers under Privacy Act safeguards.

Paperwork Reduction Notice. According to the Paperwork
The information in your file may be disclosed, on a case-byReduction Act of 1995, no persons are required to respond
case basis or under a computer matching program, to third
to a collection of information unless such collection displays
parties as authorized under routine uses in the appropriate
a valid OMB control number. The valid OMB control number
systems of records notices. The routine uses of this
for this information collection is 1845-0014. Public
information include, but are not limited to, its disclosure to
reporting burden for this collection of information is
federal, state, or local agencies, to private parties such as
estimated to average 10 minutes per response, including
relatives, present and former employers, business and
time for reviewing instructions, searching existing data
personal associates, to consumer reporting agencies, to
sources, gathering and maintaining the data needed, and
financial and educational institutions, and to guaranty
completing and reviewing the collection of information.
agencies in order to verify your identity, to determine your
The obligation to respond to this collection required to
eligibility to receive a loan or a benefit on a loan, to permit
obtain or retain a benefit (34 CFR 685.208). If you have
the servicing or collection of your loan(s), to enforce the
comments or concerns regarding the status of your
terms of the loan(s), to investigate possible fraud and to
individual submission of this form, please contact your loan
verify compliance with federal student financial aid program
holder directly (see Section 6).
regulations, or to locate you if you become delinquent in
your loan payments or if you default. To provide default rate
calculations, disclosures may be made to guaranty agencies,
to financial and educational institutions, or to state
agencies. To provide financial aid history information,
disclosures may be made to educational institutions. To
assist program administrators with tracking refunds and
cancellations, disclosures may be made to guaranty
agencies, to financial and educational institutions, or to
federal or state agencies. To provide a standardized method
for educational
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