Loans accumulate over the years you attend school. Once you have an idea of the total amount of federal student loans you may be taking, you can estimate your monthly payment amounts.
Loan Repayment Examples
Below are samples of an undergraduate and graduate student who borrow the maximum amounts over five years. The monthly payments are estimates. A servicer, contracted by the Department of Education, will notify borrowers when their monthly payments are due and will advise them of the exact amount.
Undergraduate student
An undergraduate student completes a degree in four years and borrows the maximum per year.
| Freshman: |
| Subsidized or unsubsidized Direct Loan | $3500 |
| Unsubsidized Direct Loan | $2000 |
| Total borrowed | $5500 |
| Sophomore: |
| Subsidized or unsubsidized Direct Loan | $4500 |
| Unsubsidized Direct Loan | $2000 |
| Total borrowed | $6500 |
| Junior: |
| Subsidized or unsubsidized Direct Loan | $5500 |
| Unsubsidized Direct Loan | $2000 |
| Total borrowed | $7500 |
| Senior: |
| Subsidized or unsubsidized Direct Loan | $5500 |
| Unsubsidized Direct Loan | $2000 |
| Total borrowed | $7500 |
| Total borrowed for five years | $27,000 |
Calculator results:
| Interest Rate: | 6.8 % |
| Loan amount: | $27,000 |
| Repayment Plan | Term
(in months) | Initial Monthly Payments | Total Payments (Interest + Principal) |
| Standard | 120 | $ 310.72 | $ 37,286.40 |
| Extended - This payment plan is only available for amounts greater than $30,000. |
| Graduate (see note below) | 120 | $ 213.35 | $ 39,300.01 |
Graduate student
A graduate student accumulates $27,000 in Direct Loans as an undergraduate and continues to borrow as a graduate student.
| Graduate: |
| Unsubsidized Direct Loan | $20,500 |
| Undergraduate: |
| Prior undergraduate debt | $27,000 |
| Total borrowed for five years | $47,500 |
Calculator results:
| Interest Rate: | 6.8 % |
| Loan amount: | $47,500 |
| Repayment Plan | Term
(in months) | Initial Monthly Payments | Total Payments (Interest +
Principal) |
| Standard | 120 | $ 546.63 | $ 65,595.60 |
| Extended - fixed | 300 | $ 329.68 | $ 98,904.00 |
| Extended - graduated | 300 | $ 269.17 | $ 107,131.71 |
| Graduate (see note below) | 120 | $ 375.33 | $ 69,138.90 |
Note: This an estimated monthly repayment amount for the first two years of the term and total loan payment. The monthly repayment amount will generally increase every two years based on the graduation factor in the graduated repayment rules.
