*Currently, there are a number of loan repayment alternatives, including the standard repayment of 10 years, the graduated repayment of 10 years at a lower rate and 20 years at a higher rate, and the consolidated repayment with a 30-year fixed rate. A fourth alternative with income-based repayment has just been implemented. All these alternatives permit early principal repayment without penalty, and at least one features a form of loan forgiveness.
Using current loan rates for Direct Stafford loans (6.8%) and an estimate of 7.9% for Grad Plus loans, the approximate monthly repayment rates for the current median public and private school loans are listed at the right:
Intro TuitionSource: http://www.advisein.com/law-school-costs