ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -The Income-Sensitive Repayment Plan is available to low-income borrowers who have Federal Family Education Loan (FFEL) Program loans. The payments under this plan increase or decrease based on your annual income. If you need to make lower payments on your FFEL Program loans, this plan may be for you.

Detailed explanation-2: -Standard/Level: You make the same monthly payment amount each month for 10 years. Graduated: Your monthly payments start lower and get larger over the repayment period, usually increasing every two years. This may be a good option if you need a lower payment now, but expect to make more money in the future.

Detailed explanation-3: -The Standard Repayment Plan is the basic repayment plan for loans from the William D. Ford Federal Direct Loan (Direct Loan) Program and Federal Family Education Loan (FFEL) Program. Payments are fixed and made for up to 10 years (between 10 and 30 years for consolidation loans).

Detailed explanation-4: -The Graduated Repayment Plan starts with lower payments that increase every two years. Payments are made for up to 10 years (between 10 and 30 years for consolidation loans). Eligible Federal Loans. Monthly Payments for Federal Education Loans Except Consolidation Loans.