When a student gets a student loan, there are several different types of student loan repayment plans that you could get in order to make the repayment of the loan a lot more manageable for you. There is the Standard repayment plan that is the most economical plan of them all. This plan allows the student to have low monthly payments, allows them to change the repayment agreement as circumstances in your life change, and allow you to pay off the loan without any type of penalties that you would have to pay. read more