Estimate your future federal student loan payments using the calculator below.
Enter your Number of Monthly Payments, Simple Interest Rate and Principal Amount of Loan.
What you should know:
* Your actual payment amount will be determined by your loan holder and will be based on the amount that you borrowed. However, most loan programs require at least a $50 payment each month, no matter how small your loan amount.
* Your interest rate will depend on your loan type and when you received the loan.
* The calculator is preset to 120 months and the current fixed interest rate of 6.8 percent. You may adjust these as needed.
* It is recommended that your student loan payment be less than 8 percent of your gross income. The minimum salary field is based on this recommendation.
Number of Monthly Payments
Simple Interest Rate
Principal Amount of Loan $
Your Monthly Payment Will Be $
Your Total Interest Cost Will Be $
Minimum annual salary to handle these payments: $
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