Calculator
Find out how much your student loan will cost you each month. The number of years to repay the loan is pre-set to 10 based on the standard 10 year repayment plan. The interest rate is pre-set to the fixed rate of 6.80% for Stafford loans. If you would like to calculate a monthly payment amount for a PLUS loan, simply change the interest rate to 8.50% (8.50% is the fixed rate for a PLUS loan).
Note: Federal Stafford and PLUS loans disbursed prior July 1, 2006, have variable interest rates that will change annually, but will not exceed 8.25% for Federal Stafford and 9.00% for PLUS. However, loans first disbursed on or after July 1, 2006, have fixed interest rates - 6.8% for Federal Stafford loans and 8.50% for Federal PLUS.
This calculator will round to the nearest whole
dollar amount. Your actual monthly payment may be slightly different than
the estimate provided here. You can also use this calculator to determine
any other loan payment amounts (e.g., car, home, etc.) by changing the values
in the table.