If you took a private loan to pay for your education, your loan repayment requirements will be subject to the terms of that loan. However, if you took a federal loan to pay for your school, there may be a number of repayment schedules and options available.

Federal loan payments may begin about six months after your graduation, or withdrawal, from school. Federal loans have several types of repayment plans: 

- Standard repayment: This is a fixed payment per month for a period of up to 10 years. The minimum payment is $50. 
- Extended repayment: Fixed payments are paid over a 12 to 30 year period. Payments are smaller than the standard plan, but more interest is paid over the life of the loan. 
- Graduated repayment: Over a 12 to 30 year period, payments start out low and increase each two years. The monthly payment is a minimum of $25, and is a minimum of the interest charged for that month. 
- Repayment plans based on your income: There are several of these, each with different terms.

For more information on all repayment options for federal student loans, visit http://www.finaid.org/loans/repayment.phtml .

Certain exceptions can postpone or ease your student loan payments. 

- You can defer loan payments in the following circumstances: economic hardship, enrolling in graduate school, or inability to find a fulltime job. See this Nolo guide for more information on deferment. 
- If you sign up for AmeriCorps or Teach for America, you may be eligible for grants to pay off your loans. 
- If you teach in a low income school, you may qualify to have your loan payments decreased or forgiven. See this Kiplinger’s article for more information. 
- Some professional positions (such as rurally-based doctors or other rural medical positions) may have provisions to pay down or pay off your loans.