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Repay your loan: Sample repayments

The following are sample monthly loan repayments under a standard 10-year repayment plan.

A standard repayment plan is the one in which a borrower pays the least interest overall. The chart shows what repayments would look like at different interest rates between 4–7%. Most student loans will fall between these interest rates. For example, if a student borrows $20,000 at 6%, the payment for principal and interest is $222.04 a month for 10 years.

 

Loan Amount 4.45% 5.00% 6.00% 7.00%
$5,000 $51.70 $53.03 $55.51 $58.05
$10,000 $103.40 $106.07 $111.02 $116.11
$15,000 $155.10 $159.10 $166.53 $174.16
$20,000 $206.80 $212.13 $222.04 $232.22
$25,000 $258.49 $265.16 $277.55 $290.27
$30,000 $310.19 $318.20 $333.06 $348.33