SAMPLE STANDARD REPAYMENT SCHEDULES

There are also other types of repayment plans.  You can use the calculator to estimate the other plans.  If there is a time period that you can not make payments, check with your lender about forbearance options.

STANDARD REPAYMENT

If you have borrowed from the same lender, your payment schedule would be similar to the one below.  This payment schedule is based on approximately a ten year repayment period.

Remember to add the interest that has accumulated on any unsubsidized loans to the total of  principal before applying the amount to the chart below.  Click here for a chart to add an approximate amount to the loan principal that you have borrowed.

Repayment Chart with 8.25% Interest Rate
Loan Amount Minimum Monthly Payment Total Interest Paid Total Amount Paid Approximate Number of Months
$1,000
$50
$81
$1,081
 22
$5,000
$61
$2,359
$7,359
 120
$7,500
$92
$3,539
$11,039
 120
$10,000
$123
$4,718
$14,718
 120
$12,000
$147
$5,662
$17,662
 120
$15,000
$184
$7,077
$22,077
 120
$20,000
$245
$9,437
$29,437
 120
$30,000
$368
$14,155
$44,155
 120
$40,000
$491
$18,873
$58,873
 120
$50,000
$613
$23,592
$73,592
 120

CONSOLIDATION

You have the option of consolidating your loans and extending your repayment period for up to 30 years.  This option allows you to make smaller payments, but will cost you more in interest.  If you are combining multiple loans at various interest rates, the interest rate for your consolidation loan will be a weighted average.  Keep in mind that your federal loans have grace periods, but when you consolidate, you will lose the grace period (unless you consolidate at the end of the grace period). You may also forfeit deferment options and borrower benefits.

Remember that only federal student loans may be consolidated under this plan.  If you have borrowed Alternative loans through a lender such as Citiassist, Salliemae Signature, etc., you will be paying these loans in addition to your federal loans. 

Many lenders can provide combined billing.  This means that if all of your loans (Alternative and Stafford) are from the same lender, they can send you one bill with the payment for both loans on it.   However, many lenders have programs to consolidate all of your loans.  Interest rates and benefits vary between programs.  Check with your lender for options. 

If you decide to Consolidate your loans, we recommend that you choose your lender to consolidate your loan.  There are many companies that will contact you regarding consolidation of your loan with them.  Customer service is important to you and many of them may not provide good service to you.  If you have been satisfied with the service that your lender or servicer has provided to you, you should consolidate through them.

The following chart is estimated based on consolidation of all loans at an 8.25% interest rate.  Remember to add the interest that has accumulated on any unsubsidized loans to the total of  principal before applying the amount to the chart below.  Click here for a chart to add an approximate amount to the loan principal that you have borrowed.

Consolidated Repayment Chart with all federal loans at an 8.25% Interest Rate
Loan Amount Minimum Monthly Payment Total Interest Paid Total Amount Paid Approximate Number of Months
$1,000
 Not eligible      
$5,000
 Not eligible      
$7,500
$82
$4,339
$11,839
 144
$10,000
$97
$7,463
$17,463
 180
$12,000
$116
$8,955
$20,955
 180
$15,000
$146
$11,194
$26,194
 180
$20,000
$170
$20,899
$40,899
 240
$30,000
$256
$31,349
$61,349
 240
$40,000
$315
$54,614
$94,614
 300
$50,000
$394
$68,268
$118,268
 300