 TITLE: How to Choose the Best Student Loan Repayment Plan for You CONTENT: Finding the Best Repayment Plan for You\n---------------------------------------\nWith up to seven plans to choose from, picking the right one could be tough. To narrow down the selection, take a moment to think about your goal. Here are a few you might consider.\n### Lowering Monthly Payments\nAll the income-driven repayment plans and a graduated repayment plan will typically lower your monthly payment. Keep in mind, though, that with a graduated repayment plan, your payment will certainly increase over time, regardless of your income.\nOn the flip side, an income-driven repayment plan will keep your payment at an affordable level based on your income.\n### Paying Lower Interest\nUnfortunately, the U.S. Department of Education doesn't offer opportunities to get a lower interest rate on your federal loans. Even if you consolidate multiple federal loans with a federal servicer, your interest rate will be the weighted average of the loans you're consolidating, rounded up to the nearest one-eighth of 1 percent.\n### Qualifying for Loan Forgiveness\nIf you're planning to apply for the Public Service Loan Forgiveness program (PSLF) or a similar program, it may make sense to go with the repayment plan that requires you to pay less money overall.\nWith PSLF, for instance, you need to make 120 qualifying payments in addition to meeting other requirements. If you have a 10-year standard repayment plan, there won't be anything left over to forgive once you make your qualifying payments.\nAn income-driven repayment plan is typically best if you're planning to pursue loan forgiveness. END