"Standard monthly payment" refers to the fixed amount of money that needs to be paid every month for a particular service or product, typically as part of a predetermined agreement or contract. Full definition
Borrowers start with a reduced monthly payment, which gradually increases after year two and four, settling into a higher standard monthly payment in year six for the duration of the loan. (entrepreneur.com)
However, borrowers who prefer standard monthly payments will still have that option when selecting a loan term. (valuepenguin.com)
Like the income based plan, you'll have lower than standard monthly payments. (credible.com)