What repayment options are available for Missouri Higher Education Loan Authority student loans?

Missouri Higher Education Loan Authority (MOHELA) offers various repayment options for student loans. Borrowers can select from standard, graduated, and extended repayment plans. The standard plan entails fixed monthly payments over the loan term, ensuring timely repayment. The graduated plan starts with lower payments that gradually increase over time. This option is suitable for borrowers who anticipate income growth. MOHELA also provides extended repayment, allowing borrowers to stretch the repayment period beyond the standard term. Income-driven repayment plans, such as Income-Based Repayment and Pay As You Earn, are accessible too. These options base monthly payments on the borrower's discretionary income and family size. Additionally, MOHELA offers loan consolidation, enabling borrowers to combine multiple loans into one, simplifying repayment. Overall, MOHELA offers versatile and flexible repayment options to accommodate various financial situations.