Repayment Plans

A few things to think about when looking at Direct Loan repayment plans:

Changing Repayment Plans

You can change your repayment plan as often as you want as long as the new plan has a longer repayment term than the amount of time you've already spent in repayment.

Your new repayment plan is calculated by subtracting the amount of time you've already spent in repayment from the repayment term allowed under the new plan. To change your plan, complete the Repayment Plan Selection Form and return it to CornerStone, or call us at 800-663-1662.

  1. If you are required to repay under the Income-Contingent Repayment (ICR) plan, you have to make three consecutive on-time payments of a payment amount based on your income before changing to another plan.
  2. If you choose to leave an Income-Driven Repayment plan, your account will be placed on the Standard Repayment Plan.
  3. You can change your Income-Driven Repayment plan at any time.
  4. Your repayment plan options depend on the type of loans you have.