Panhandle-Plains Student Loan Center offers a variety of repayment options to assist you in repaying your student loans.

• Standard: Equal monthly payments for the duration of the repayment period. You will receive a standard repayment plan unless you request another option.
• Graduated: Your payments gradually increase since it is assumed your earnings will also increase. Generally payments increase after the first 24 months of repayment. If you wish to choose the graduated plan, please contact us.
• Income Sensitive: Your payments are based on your gross monthly income. You will be asked to provide your gross monthly income from employment and other sources. Verification of this income will be required if it is determined that the maximum repayment term will be exceeded. Income-sensitive repayment schedules are in effect for 12-month increments. Payments must cover at least the interest, which accrues between payments. If you wish to choose the income-sensitive plan, you can contact us to request the appropriate form.

Maximum repayment terms are determined by Federal regulations. The maximum repayment term for Stafford, SLS and PLUS loans is ten years. The maximum repayment term for consolidation loans is 10, 12, 15, 20, 25 or 30 years, depending on the sum of the beginning balance of the consolidation loan and other education loan balances. In cases where the effect of decreased installment amounts paid under an income-sensitive repayment plan would result in the loan not being repaid within the maximum period, annual extensions of the repayment period may be received for up to five years.