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Update January 4: Have questions about financial aid? Check out the undergrad financial aid section of our site. Learn more about the 2020–2021 academic year by visiting our  FAQ page, financial support page for undergrads, or MIT’s COVID-19 response site.

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 displays repayments at four typical interest rates: 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 4.45% 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