Student Loan Repayment Plans Quiz

What are the two main categories of student loan repayment plans?

• Fixed and income-driven repayment plans

• Standard and graduated repayment plans

• Fixed and variable repayment plans

• Income-driven and interest-only repayment plans

Which repayment plan automatically applies if no other plan is selected?

• Graduated Repayment Plan

• Income-Contingent Repayment Plan

• Extended Repayment Plan

• Standard Repayment Plan

How often do payments increase in the Graduated Repayment Plan?

• Every six months

• Every five years

• Every year

• Every two years

What is the maximum repayment period for the Extended Repayment Plan?

• 25 years

• 10 years

• 15 years

• 20 years

Which factor does NOT affect the monthly payment amount in income-driven repayment plans?

• Credit score

• Family size

• Income

• Loan type

After how many years is the remaining balance typically forgiven in income-driven repayment plans?

• 15 or 20 years

• 25 or 30 years

• 20 or 25 years

• 10 or 15 years

What tool can help you estimate your monthly payment and compare different repayment plans?

• Loan Calculator

• Repayment Estimator

• Loan Simulator

• Payment Planner

Where can you apply for an income-driven repayment plan online?

• StudentAid.gov/apply

• StudentAid.gov/idr

• StudentAid.gov/repayment

• StudentAid.gov/loans

What benefit do you receive by setting up auto pay for your student loans?

• No interest rate deduction

• A 0.5% interest rate deduction

• A 0.25% interest rate deduction

• A 1% interest rate deduction

Where can you find more information about student loan repayment?

• StudentAid.gov/loans

• StudentAid.gov/guide

• StudentAid.gov/info

• StudentAid.gov/repay101