To help pay for your college education, students may borrow through one or more of the following loan programs.
Learn more about Direct Subsidized and Unsubsidized Loans (Stafford)
Loan Repayment Calculator
To estimate your monthly loan repayments, please visit the FinAid.org calculators
For questions about applying for loans, please contact our office.
Sample Loan Repayment Schedule
All student loans must be repaid. Below are sample loan repayment schedules assuming that the loan is first disbursed on or after 7/1/23 and before 7/1/24 and the interest rate remains constant throughout the life of the loan. Currently the 2023-24 Undergraduate Federal Direct Loan has a fixed rate of 5.5% and the Graduate Federal Direct Loan has a fixed rate of 7.05% with a loan fee of 1.057%.
The tables also assume that the loan will be paid in equal monthly installments through standard loan amortization. The examples are not accurate for some alternate repayment plans, such as graduate repayment and income contingent repayment
Sample Undergraduate Loan Repayment Schedule
Balance of Repayment |
Number of Payments |
Estimated Monthly Payment Amount |
Estimated Cumulative Payments |
Estimated Total Interest Paid |
|---|---|---|---|---|
|
$5,500 |
120 |
$60 |
$7,163 |
$1,663 |
|
$10,000 |
120 |
$109 |
$13,023 |
$3,023 |
|
$20,000 |
120 |
$217 |
$26,046 |
$6,046 |
|
$30,000 |
120 |
$326 |
$39,069 |
$9,069 |
Sample Graduate Loan Repayment Schedule
Balance of Repayment |
Number of Payments |
Estimated Monthly Payment Amount |
Estimated Cumulative Payments |
Estimated Total Interest Paid |
|---|---|---|---|---|
|
$20,500 |
120 |
$239 |
$28,626 |
$8,126 |
|
$50,000 |
120 |
$582 |
$69,820 |
$19,820 |