Student Loan Repayment Programs for Florida and Tennessee Residents
Customize your student loan repayment program to fit your needs.
One reason our Customer Satisfaction levels are so high is that AFS offers a wide variety of student loan repayment programs as part of the Student Loan Consolidation process. These plans have been created with your unique needs in mind and are designed to make it as easy as possible for you to manage your money your way.
You decide how low you want your monthly payment by picking your repayment terms.
Depending upon the amount of your student loan debt, you can stretch your repayment term by up to 30 years.* Lengthening the term of your loan will significantly reduce your monthly payment. You should note that your extended repayment term will increase the total amount of interest you pay on your loan. But because there are no prepayment penalties with AFS, you can reduce your interest cost by increasing the amount you pay each month or by paying off your loan early - without a penalty or fee.
Available repayment terms for Federal loans:
* Based on total outstanding principal amount of your educational debt, including Federal loans you choose not to consolidate and/or private educational loans.
Level of Student Loan Repayment Programs
A level of student loan repayment programs is best suited for those who wish to take control of their finances with a lower monthly payment and the convenience of a single bill.
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Total student loan debt*
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Maximum repayment term
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$7,500 to $9,999
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up to 12 Years
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$10,000 to $19,999
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up to 15 Years
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$20,000 to $39,999
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up to 20 Years
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$40,000 to $59,999
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up to 25 Years
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$60,000 and greater
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up to 30 Years
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Fixed monthly payment
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Monthly payments credited to principal and interest
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Lowest overall interest cost of the various repayment options
Two-Year Student Loan Graduated Repayment Plan
This plan is best for those whose current earnings are low but are expected to increase in the near term.
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Lower, mostly interest payments over the first two years of repayment
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Full principal and interest payments begin in year three of repayment
Four-Year Student Loan Graduated Repayment Plan
A plan created for people whose current earnings are low but expected to go up in a few years
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Lower, mostly interest payments over the first four years of repayment
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Full principal and interest payments begin in year five of repayment
Income-Sensitive Student Loan Repayment Plan
With this plan, your payments are based upon your income and are adjusted annually. It's best suited to those with extreme financial problems who may be in danger of default.
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Payment obligations are calculated based on current income level and are adjusted annually based on expected total income
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Payments must cover the interest that accrues between scheduled payments
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Higher finance charges over the life of the loan
Extended Student Loan Repayment Program
This option is only available to you if you have $30,000 or more in student loan or PLUS loan debt and you first took out loans on or after October 7, 1998. This plan allows you to extend the repayment term of your loan to 25 years, and allows you to pay both principal and interest payments, but those payments will be smaller because the loan term is longer. Although this option will incur more interest over the life of the loan, it allows you to make smaller payments. If you have educational debt in excess of $60,000 and wish to repay over a 30-year term, you should select one of the other repayment options.
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Limited to first-time borrowers on or after October 7, 1998.
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Borrower must have an outstanding FFELP balance of at least $30,000.
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Maximum repayment period is 25 years.
Consolidate your student loans and start saving today
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Apply Now for Student Loan Repayment Programs!