Federal Direct Stafford and Grad PLUS Loan Repayment

The Department of Education has loan repayment calculators found on the Federal Student Aid website that students can use to estimate monthly repayment amount(s) for their federal student loans.

 

Federal Perkins Loan Repayment Example (10-year standard repayment)

Interest Rate 5.0%

Monthly Payment $339.84 

Amount Borrowed $32,000

Total Principal Plus Interest $40,781

 

Alternative Student Loan Repayment Example (15-year extended repayment)

Interest Rate 6.0%

Monthly Payment $1,012.63

Amount Borrowed $120,000

Total Principal Plus Interest $182,273

 

Institutional Student Loan Repayment Example (10-year standard repayment)

Interest Rate 4.0%

Monthly Payment $404.98

Amount Borrowed $40,000

Total Principal Plus Interest $48,598