Which repayment plan will you be placed on automatically unless you change it by contacting your servicer?
Detailed Solution:
Correct Answer: Standard Repayment Plan
in the U.S. are placed on the Standard Repayment Plan. This plan has fixed monthly payments designed to pay off the loan in 10 years (or up to 30 years for Direct Consolidation Loans). Borrowers may switch to other options, like income-driven or graduated plans, by contacting their loan servicer.
