If you stop and think about it, the world of student loans is clearly detached from reality, which is something to be thankful for. Where else could an 18-year-old, with no job, credit history, collateral, or cosigners, borrow more than $100,000 simply on the promise that it’ll be paid back? It’s pretty wonderful, funny, and scary at the same time.

Well, my advice on choosing a student loan repayment plan takes advantage of yet another Twilight Zone-like feature of student loans. Namely, that a borrower’s interest rate stays the same regardless of whether he’s going to repay money over 10 years or take as long as 25 years. In the real world, the interest rate for two otherwise identical loans should be significantly higher for someone who wishes to borrow money for an extra 15 years. And yet, student loan interest rates stay the same.

The practical application of this loophole is that borrowers should opt for the lowest monthly payment and the longest repayment period possible but repay the loan as fast as they can. In other words, because your rate does not change, keep your commitment to your lender to a minimum but strive to pay off what you owe as quickly as possible. This will allow you the maximum flexibility to adjust your budget to other financial opportunities and surprises, while lowering the risk that you’ll fall behind on your commitment to the lender.

For most people, this is likely going to mean one of three things. They’ll need to use either the Income Based Repayment (IBR) program if they can qualify or the Extended and Graduated programs if they cannot. Again, the intent here is to make as much over these lower minimum payments as possible, assuming that they don’t have other debts the borrowers need to pay down with higher interest rates. Ideally, these loans should be paid off in 10 to 15 years, but choosing one of these other repayment plans gives you maximum flexibility to adjust to post-college life.