Estimated Monthly Payment During Repayment

Remember: Various calculators are available for use on this site. When using this calculator you agree and acknowledge that such calculators may be used for illustrative purposes only. Certain assumptions, included but not limited to loan type, interest rate, repayment plan type, borrower delinquency, forbearance and deferment, have been made for each calculator that may or may not reflect your actual circumstances.

1. Enter the total Loan Amount (principal) for which you would like to calculate the estimated monthly payment. (Enter Loan Amount as a whole number without commas.)
2. Enter the Interest Rate Before Repayment Begins (i.e., during the in-school and grace periods). The interest rate must be entered as a percentage (e.g., 8.25%), not as a decimal (e.g., .0825). Please note that as of March 15, 2000, the interest rate for FFELP loans was capped at 8.25%. For subsidized FFELP loans, the interest rate was 0%.
3. Enter the Number of Months Before Repayment Begins (i.e., the number of months between the date the money will be disbursed and the date repayment is expected to begin). Please note that under many education loan programs, repayment begins following a six-month grace period after graduation or termination of enrollment.
4. Enter the Interest Rate During Repayment for the loan (i.e., the interest rate in effect once repayment begins, after the in-school and grace periods). The interest rate must be entered as a percentage (e.g., 8.25%), not as a decimal (e.g., .0825). Please note that as of March 15, 2000, the interest rate for FFELP loans was capped at 8.25%.
5. Enter the desired Number of Monthly Payments for the loan. Please note that as of March 15, 2000, the maximum repayment period for FFELP loans was 120 months. Some consumer education loans permit longer repayment periods.
6. Please note that the minimum monthly payment under most education loan programs, including FFELP, is $50. Our loan calculator will not compute an Estimated Monthly Payment less than $50, and it will not alter the figure you entered for Number of Monthly Payments. Therefore, please note that if your estimated Monthly Payment Amount is $50, your actual number of monthly payments (i.e., those required to repay your loan in full) may be less than the number you entered in the Loan Calculator.
7. Please note that our Loan Calculator assumes that no payments will be made during the in-school and grace periods and that all accrued but unpaid interest will be capitalized at the end of the grace period. If the loan program you are considering permits or requires interest payments during the in school and grace periods, use 0% as the Interest Rate Before Repayment Begins to obtain the Estimated Monthly Payment During Repayment following the in-school and grace periods. To obtain an estimate of the interest-only monthly payments during the in-school and grace periods, multiply the Loan Amount by the actual Interest Rate Before Repayment Begins and divide by 12.