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I'm wondering if Nelnet has the wrong information -- their site says you can choose from up to 20 years to repay if you're on an income-based repayment plan (see attached)? From the Studentloan.com site, it says REPAYE is 138 months.

Thanks for your reply. I used NelNet.com and $60 per month is the estimate they gave me (see attached). It does seem low. What site did you use? Was the $182 you used based on the REPAYE option? Thanks for your help!

Hello,

I have about $28,000 in subsidized/unsubsidized student loans. I graduated in May 2017 and will need to start paying them back in January 2019. I looked into the repayment options and am considering the REPAYE option. Currently, my income is $40,000 and they are estimating my monthly payment would be $60 (versus $286 which it is now).

I see that the loan could be forgiven in 20 years with consistent payments. I think it also says my monthly payment will never go above the original amount of $286.

I'm wondering what the catch is? As I understand it, it sounds like I would save money in the long run, as long as the loan is forgiven after 20 years. Does this option greatly decrease the amount I will have to pay back or am I missing something? Thank you for any help! Carol