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8 Examples of Debt Levels, Beginning Monthly Payments, and Total Amount Repaid for All Direct Loan Repayment Plans* Initial Debt Income Contingent*** Income Contingent*** Income Contingent*** When Standard** Extended Graduated Income = \$15,000 Income = \$25,000 Income = \$45,000 Borrower Enters Single Married/HOH**** Single Married/HOH**** Single Married/HOH**** Repayment Per Total Per Total Per Total Per Total Per Total Per Total Per Total Per Total Per Total Month Month Month Month Month Month Month Month Month 2, , , , , , , , , ,870 5, , , , , , , , , ,740 7, , , , , , , , , ,609 10, , , , , , , , , ,479 15, , , , , , , , , ,219 20, , , , , , , , , ,958 25, , , , , , , , , ,398 30, , , , , , , , , ,437 40, , , , , , , , , ,917 50, , , , , , , , , ,396 75, , , , , , , , , , ,000 1, , , , , , , , , ,866 *Note: Payments are calculated using the maximum interest rate of 8.25%. **Equal and fixed monthly payments (\$50 minimum). ***Based on formula requirements in effect during Assumes a 5% annual income growth (Census Bureau). ****HOH is Head of Household. Assumes a family size of two. 8

10 Direct Consolidation Supplemental Loans for Students Loans FFEL Program (SLS) /Auxiliary FFEL Program (Subsidized & Direct PLUS Stafford Loans/ Loans to Assist FFEL Program Consolidation Unsubsidized) Consolidation Loans GSL/FISL Students (ALAS) PLUS Loans Loans Deferment Options All Borrowers Borrowers Prior to 7/1/93 Attending school at least half time 12, 13 12, 13 12, Attending school full time Attending approved graduate fellowship or rehabilitation program for disabled individuals 14 Unemployed Up to 3 years Up to 3 years Up to 2 years Up to 2 years Up to 2 years Up to 2 years Economic hardship (including Peace Corps service) Up to 3 years Up to 3 years No No No No Serving required internship/residency Up to 2 years 15 Up to 2 years 15 Up to 2 years Up to 2 years Up to 2 years 14 No Temporarily totally disabled or required to provide full-time care for disabled dependent Up to 3 years 15 Up to 3 years 15 Up to 3 years Up to 3 years Up to 3 years Up to 3 years Teaching in designated teacher shortage area Up to 3 years 15 No Up to 3 years 12 Up to 3 years 12 No No Serving in the Armed Forces, Peace Corps, Public Health Service, ACTION, or as a full-time volunteer for tax-exempt organization Up to 3 years 15 Up to 3 years 15 Up to 3 years Up to 3 years Up to 3 years 14 No Active duty in NOAA corps Up to 3 years 15 No Up to 3 years 12 Up to 3 years 12 No No Qualifying parental leave Up to 6 mos. 15 No Up to 6 mos. 12 Up to 6 mos. 12 No No Working mother Up to 1 year 15 No Up to 1 year 12 Up to 1 year 12 No No Attending school at least New Borrowers as of 7/1/93 half time Attending approved graduate fellowship or rehabilitation program for disabled individuals Unemployed Up to 3 years Up to 3 years Up to 3 years Up to 3 years Up to 3 years Up to 3 years Economic hardship (including Peace Corps service) Up to 3 years Up to 3 years Up to 3 years Up to 3 years Up to 3 years Up to 3 years Notes 12 Only for borrowers with no outstanding loans as of 7/1/ If borrower has received a Stafford Loan or SLS for the deferment period, or for PLUS borrower only, has a dependent student who borrows a Stafford loan for the deferment period. 14 For loans made before 8/15/ If borrower currently has a loan with this deferment option, or has an outstanding balance on a FFEL Program loan made prior to 7/1/93. 10

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