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Standard Repayment

This repayment plan saves you money over time because your monthly payments may be slightly higher than payments made under other plans, but you’ll pay off your loan in the shortest time. For this reason, you will pay the least amount of interest over the life of your loan.

When it comes time to repay your loans, you have the option to choose a repayment plan. If you don’t choose a different repayment plan, your loan servicer, the company that handles the billing and other services on your federal education loan, will place you on the Standard Repayment Plan.

Source: studentaid.ed.gov