The standard time to pay off federal student loans is 10 years, but terms can range from five to more than 20 years, depending on the type of loan and repayment program. Your specific situation will also determine how long you have to pay off student loans, including the amount of student loan debt you have and how high a payment you can afford to make each month.
Here’s what you need to know about paying off student loans.
Key Points
• The standard repayment term for federal student loans is 10 years, but terms can range from 5 to over 20 years, depending on the repayment plan chosen.
• Longer repayment terms result in lower monthly payments but higher total interest costs.
• Shorter repayment terms lead to higher monthly payments but lower total interest costs.
• Refinancing may offer lower interest rates and potentially shorter repayment terms to borrowers who qualify.
• Paying extra toward student loans each month or making a lump sum payment could make it faster to reduce the total amount of debt and interest a borrower owes.
Understanding Student Loan Repayment Timelines
First, you may be wondering when to start paying student loans. You need to begin loan repayment after you graduate from college, withdraw, or drop below half-time enrollment. Most federal loans, including Direct Subsidized and Direct Unsubsidized Loans, and many private loans, come with a six-month grace period, meaning that your payments won’t be due for six months after leaving school.
When it comes time to pay back your student loans, one of the most important things you can do is keep track of student loan payment due dates, to make sure your payments are on time each month. Late payments or failure to make payments can have serious consequences, including student loan default.
How Repayment Terms Affect Payoff Time
How long are student loan terms? It depends on the repayment plan you choose.
Once your loans become due, you can pick a student loan repayment plan. Student loan repayment options for federal loans include the Standard Repayment Plan, Extended Repayment Plan, Graduated Repayment Plan, and income-driven repayment (IDR) plans. These various repayment options come with their own pros and cons, so it’s important to understand your needs to determine which one makes the most financial sense.
If you don’t make a choice, your federal loans will automatically be enrolled in the Standard Repayment Plan, where the length of your repayment period is set to 10 years.
With private student loans, your repayment period is the term you agreed to when you signed for the loan. These will vary by lender and your personal situation.
Standard Repayment Plan: 10-Year Term
You have 10 years to pay off your student loans under the Standard Repayment Plan. You’ll pay a set amount every month, and you may pay less overall for the student loan because of the relatively short term.
For most federal student loans, the standard option includes a six-month grace period that allows recent graduates to get a head start on finding a job. The clock starts ticking the moment you graduate, leave school, or fall below half-time enrollment. Loans that offer a student loan grace period include:
• Direct Subsidized Loans
• Direct Unsubsidized Loans
• Subsidized Federal Stafford Loans
• Unsubsidized Federal Stafford Loans
Just be aware that interest continues to accrue on unsubsidized loans during those six months, and it will be added back into the loan, increasing the principal. Direct Subsidized Loans do not accrue interest during the grace period.
Public Service Loan Forgiveness
The Standard Repayment Plan might not be a good choice for you if you’re trying to qualify for Public Service Loan Forgiveness (PSLF). Borrowers pursuing this program agree to work in underserved areas for a government entity or certain nonprofits and must meet specific requirements to have their loan forgiven after 120 qualifying payments. To be eligible for this program, you need to be enrolled in an income-driven repayment plan as opposed to the Standard Repayment Plan.
Direct Loan Consolidation
Combining your federal student loans on the Standard Repayment Plan into a Direct Consolidation Loan could open up several repayment options. Consolidation combines your federal loans into one loan with a single interest rate, which may simplify the repayment process. The interest rate is the weighted average of the loans you are consolidating, rounded up to the nearest one-eighth of a percentage.
Your loan term, ranging from 10 to 30 years, will depend on the amount of student loan debt you have. Extending your loan term may lower your monthly payment, but keep in mind that you’ll most likely end up paying more in interest over the life of the loan.
Recommended: Student Loan Repayment Calculator
Alternative Repayment Plans: Graduated and Extended Options
Graduated Repayment Plan: 10 to 30 Years
Generally, all federal loan borrowers can opt for the Graduated Repayment Plan. This plan could be an option for borrowers who expect their income to rise over time. It begins with low monthly payments that gradually increase at two-year intervals. The idea is that recent graduates’ salaries at entry-level positions may start off low, but will rise over 10 years through promotions or job changes.
The downsides of the Graduated Repayment Plan are that you could be paying more over the life of the loan, and if your salary doesn’t increase as anticipated, the later payments can become burdensome.
So how long do you have to pay back your student loan under the Graduated Repayment Plan? Borrowers have 10 years to repay their loans, or 10 to 30 years if they have Direct Consolidation Loans.
Extended Repayment Plan: Up to 25 Years
The Extended Repayment Plan allows qualified applicants to extend the term of the loan to 25 years, making monthly payments smaller. Borrowers may end up paying more in interest over the longer loan term, but there are options for a fixed monthly payment or a graduated payment that will rise throughout the term.
The Extended Repayment Plan is geared toward borrowers who owe sizable sums. To qualify, you must owe $30,000 or more in federal student loan debt.
Neither the Graduated Repayment Plan nor the Extended Repayment Plan qualify for Public Service Loan Forgiveness.
Income-Driven Repayment Plans
March 26, 2025: The SAVE Plan is no longer available after a federal court blocked its implementation in February 2025. However, applications for other income-driven repayment plans and for loan consolidation are available again. We will update this page as more information becomes available.Income-driven repayment (IDR) plans are designed to make repayment easier if you can prove that paying back your student loans is a significant financial burden. Payments are based on factors including your discretionary income and family size.
However, as of March 2025, access to IDR plans for new borrowers is currently on hold while the Trump administration reevaluates these plans. Borrowers who are already enrolled in an IDR plan are barred from recertifying for three months. You can find out more about this and any new developments on the Federal Student Aid website.
In the meantime, here is a quick look at how long borrowers have to pay back student loans under income-driven repayment plans. Each of the following plans has a different repayment period.
Typically, the remaining balances on eligible student loans are forgiven after making a certain number of qualifying on-time payments, but currently, forgiveness on three of the plans is paused, as detailed below. Borrowers who achieve the payment milestones on any of these plans will be placed in interest-free forbearance.
Saving On A Valuable Education (SAVE) — 10 to 25 Years
As noted previously, as of March 2025, the SAVE plan, which replaced the Revised Pay As You Earn (REPAYE) program, is no longer available after being blocked by a federal court. Forgiveness has been paused for borrowers who were already enrolled in the plan, and they have been placed in interest-free forbearance.
Pay As You Earn (PAYE) — 20 Years
A borrower’s monthly payment on PAYE is roughly 10% of their discretionary income, and they’ll make 20 years of payments. As of March 2025, forgiveness has been paused for borrowers who were already enrolled in the plan, and they have been placed in interest-free forbearance.
Income-Based Repayment (IBR) — 20 or 25 Years
On this plan, borrowers’ monthly payments are about 10% of their discretionary income. They will have 20 years to pay back the loan if they’re a new borrower on or after July 1, 2014. If an individual borrowed student loans before that date, they will have 25 years to finish making payments.
It’s important to note that on the IBR plan, forgiveness after the 20- to 25-year repayment term has been met is still proceeding as of March 2025, since the IBR plan was separately enacted by Congress.
Income-Contingent Repayment (ICR) — 25 Years
Under ICR, the monthly payment amount is either 20% of a borrower’s discretionary income divided by 12, or the amount they would pay on a repayment plan with a fixed payment over 12 years, whichever is less. As of March 2025, forgiveness has been paused for borrowers who were already enrolled in the plan, and they have been placed in interest-free forbearance.
How to Choose the Right Student Loan Repayment Plan
Choosing a student loan repayment plan is a personal decision that will depend on factors such as the amount of student loan debt you have, the industry you work in, your current income and expenses, your estimated future income, and your career goals.
For example, if you are working in a field in which starting salaries are low but income typically rises within a few years as you advance in your career, the Graduated Repayment Plan may make the most sense for you.
How Private Student Loan Repayment Differs From Federal Loan Repayment
Private student loans are not required to offer the same benefits or repayment plans as federal student loans. The term and repayment plan available to you will be determined by the private lender at the time you borrow the loan. This is based on your credit history, among other factors. If you have questions about the terms of your private student loans, you can contact your lender directly.
Ways to Pay Off Student Loans Faster
It is possible to fast-track your student loan payments. Here are some strategies to potentially pay off what you owe faster.
• Put extra money toward the loan principal. By paying extra on your student loans each month (or whenever you can), you can help shrink your debt and reduce the total amount of interest you’ll pay over the life of the loan. Just be sure to specify to your lender or loan servicer that the extra money you’re paying should be applied to the principal. Otherwise, they might deduct the money from next month’s payment, rather than the loan balance.
• Make a lump sum payment. Another option is to put a chunk of “found money” toward your student loans. This could be something like your tax refund or a bonus you get at work. Instead of spending the money, dedicate it to the principal on your student loans to help reduce your loan balance.
• Refinance your student loans. To pay off your loans faster, you can also refinance student loans and select a shorter loan term. Shortening the term of the loan can also decrease the total amount a borrower spends on interest over the life of the loan, especially if they also qualify for a lower interest rate.
However, keep in mind that refinancing federal loans means you are no longer eligible for federal protections or programs such as federal deferment.
Pros and Cons of Long vs. Short Repayment Terms
When choosing a repayment option for your student loan, consider the benefits and drawbacks of long-term and short-term repayments. And then compare all the pros and cons to see what repayment strategy is a better fit for your situation.
Pros of Long Repayment Terms:
• With a longer loan term, your monthly payments may be lower.
• If you’re struggling to pay your monthly expenses, smaller student loan payments may help free up extra money in your budget.
• Paying less on your student loans each month may help you work toward other financial goals, such as saving up for a car or a house.
Cons of Long Repayment Terms:
• A longer loan term means you may pay more in interest over the life of the loan.
• You’ll be in debt for a greater period of time with a longer loan term.
• Lenders consider longer loan terms riskier than shorter terms and they may charge higher interest rates for student loans with longer loan terms.
Pros of Short Repayment Terms:
• By paying off your student loans faster, you’ll repay your debt faster and free up your money for other purposes.
• You’ll likely pay less in total interest costs over the life of the loan.
• With a shorter repayment term on a private student loan, you might qualify for a lower interest rate on the loan if your credit is strong.
Cons of Short Repayment Terms:
• Your monthly payment will be higher with a shorter loan term.
• Larger payments mean your monthly budget will be tighter.
• If unexpected expenses arise, such as emergency car repairs or a surprise medical bill, you may have trouble paying them.
Refinancing Options to Shorten Your Loan Term
If you’re considering refinancing your student loans, you could opt for a shorter repayment term, if you qualify. With a shorter loan term, your monthly payments will be higher, but you can pay off your debt faster, which may help you save on total interest over the life of the loan.
Another option is to refinance to a loan with a shorter repayment term and a lower interest rate, if you qualify. That way, you’ll generally pay less in interest each month and overall, and you’ll also pay off your loan faster. But again, your monthly payments will be higher.
The Takeaway
How long you have to pay off student loans depends on the types of loans you have, the student loan repayment option you choose, and how large an amount you can afford to pay each month. Options for paying off student loans include the Standard Repayment Plan, Extended Repayment Plan, and Graduated Repayment Plan. You can also choose to consolidate your federal loans into one loan with one monthly payment, or refinance federal and/or private student loans into a new loan with a new interest rate.
If you choose to refinance your student loans, the benefits include the potential of a lower interest rate or a lower monthly payment. If you choose a shorter loan term, your monthly payment will be higher but you’ll likely pay less in interest over the life of the loan. A longer loan term will get you a lower monthly payment, but you’ll pay more in interest overall. Just remember that refinancing federal student loans makes them ineligible for federal benefits.
Looking to lower your monthly student loan payment? Refinancing may be one way to do it — by extending your loan term, getting a lower interest rate than what you currently have, or both. (Please note that refinancing federal loans makes them ineligible for federal forgiveness and protections. Also, lengthening your loan term may mean paying more in interest over the life of the loan.) SoFi student loan refinancing offers flexible terms that fit your budget.
FAQ
Is there a time limit to pay off student loans?
There is a time limit for paying off student loans. The time limit is determined by the loan term and repayment plan selected by the borrower. For example, under the Standard Repayment Plan, borrowers repay their student loans over a period of 10 years. On the Extended Repayment Plan, the repayment period is extended up to 25 years.
Do student loans go away after 25 years?
Student loans don’t just go away after 25 years. However, for borrowers enrolled in the Income-Based Repayment Plan, which is one of several income-driven repayment plans, the remaining balance is forgiven or canceled at the end of the loan term, which may be 20 or 25 years. This forgiven balance may be considered taxable income by the IRS, so be sure to understand if that is the case for you.
With other income-driven plans, as of March 2025, forgiveness is currently paused. Borrowers who reach the payment milestone on any of these plans will be placed in interest-free forbearance.
Are student loans forgiven after 7 years?
No, student loans are not just forgiven after seven years. There are no federal programs offering loan forgiveness after seven years.
Can you switch repayment plans if your financial situation changes?
With federal student loans, you can change your repayment plan at any time by requesting a new plan from your loan servicer. You will likely have to submit an application. While applications for income-driven repayment plans are on hold as of March 2025, you can explore other repayment plans such as the Standard, Graduated, or Extended Repayment Plan, depending on your situation.
If you have private student loans, you may be able to change your loan repayment terms through student loan refinancing, if you qualify for new terms. You can also contact your current lender to see if they might be able to work with you to make your payments more manageable if you are struggling financially.
What happens if you pay off student loans early?
There are generally no penalties for paying off federal or private student loans early. In fact, lenders are banned by law from charging prepayment penalties on private or federal student loans. If you pay off your student loans early, you’ll typically save money by paying less in interest over the life of the loan and eliminate a source of monthly debt.
SoFi Student Loan Refinance
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