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TeachMeFinance.com - explain Repayment Repayment -- A loan is borrowed money that must be repaid. There are often different repayment plans. For example, for student loans in the United States, borrowers have a choice of repayment plans if they received a FFEL or a Direct Loan. However, Federal Perkins Loans don't have repayment plan choices; borrowers generally have up to 10 years to repay. The monthly payment will depend on the size of the debt and the length of the repayment period. About the author Mark McCracken Author: Mark McCracken is a corporate trainer and author living in Higashi Osaka, Japan. He is the author of thousands of online articles as well as the Business English textbook, "25 Business Skills in English". Copyright © 2005 by Mark McCracken, All Rights Reserved. TeachMeFinance.com is an informational website, and should not be used as a substitute for professional financial or legal advice. TeachMeFinance.com and its owner recommend consultation with a professional financial advisor prior to any investment or financial decision. Please read our disclaimer.