Under a Standard 10-Year Repayment Plan
The following are sample monthly loan repayments under a standard 10-year repayment plan. Standard repayment is the one in which a borrower pays the least interest overall
The chart displays repayments at four typical interest rates for 2014-2015, 4.66%, 5.0%, 6.21% and 7.21%, for loan amounts in $5,000 increments up to $30,000. For example, if a student borrows $20,000 at 6.21%, the payment for principal and interest is $224 a month for 10 years.
|
LOAN AMOUNT |
4.66% |
5.0% |
6.21% |
7.21% |
|
$5,000 |
$52 |
$53 |
$56 |
$58 |
|
$10,000 |
$104 |
$106 |
$112 |
$117 |
|
$15,000 |
$157 |
$159 |
$168 |
$176 |
|
$20,000 |
$209 |
$212 |
$224 |
$234 |
|
$25,000 |
$261 |
$265 |
$280 |
$293 |
|
$30,000 |
$313 |
$318 |
$336 |
$352 |