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Note that details provided on this page reference loans made under the Federal Education Loan Program (FFELP). Effective July 1, 2010, all new federal student loans will come directly from the U.S. Department of Education (ED) under the William D. Ford Federal Direct Loan Program (Federal Direct Loans). For information regarding Federal Direct Loans, refer to ED's Direct Loan Program Web site or contact the college's financial aid office.
This calculator estimates what the monthly payments may be on a Federal Stafford, Federal Perkins or Federal PLUS Loan once repayment begins. The result can be helpful when deciding a reasonable amount to borrow, based on one’s ability to repay.
The calculator is based on a standard repayment for the Federal Stafford Loan Program. Based on the amount borrowed, the minimum monthly payment for the Federal Stafford and Federal PLUS loans is $50; for the Federal Perkins Loan, it’s $40. Repayment options for money borrowed through the Federal Direct Loan Program may be different.
Instructions
Use whole dollar amounts, decimals accepted. All blanks are assumed to be zero (0).
This calculator provides an estimate only. Interest rates, loan programs and federal regulations may impact minimum monthly payments.
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