Will I be able to pay back my loans? Assumptions Salary upon graduation ($) Original loan amount ($) Annual interest rate (%) Payment period (months) Reset Submit Results Please check the provided inputs above for a missing value.
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Direct PLUS Loan Payment Calculator PLUS loans are low-interest federally insured loans for parents of undergraduate students to help pay a dependent student's college cost. PLUS loans are also available to graduate and professional students. The rate is fixed 7.9% for loans made on or after July 1, 2006. Loan Information Amount to Borrow (Year 1) Amount to Borrow (Year 2) Amount to Borrow (Year 3) Amount to Borrow (Year 4) Annual Interest Rate Desired Amortization Schedule Yearly Monthly Reset Submit Results Please check the provided inputs above for a missing value.
Resources How much should I for save for college? What is the value of a college education? What will mymonthly payment be? Do I qualify for an Income-Based Repayment Plan? How long until my loan is paid off? What is the cost of a deferment or forbearance?
Postponing Payments If youâ€™re having trouble making payments temporarily, a postponement option may be a good fit for you. The two methods of postponement you may qualify for are deferments or a forbearance.Â Deferment What is deferment? A deferment is a period of time in which your payments are temporarily postponed. You have to meet specific criteria to qualify for deferment. To be eligible for a deferment your loans must be in repayment and you must provide specific documentation. What deferment options are available? Eligibility requirements differ between deferment type and are indicated on eachÂ deferment request form. A list of…
How long until my loan is paid off? By making consistent regular payments toward your student loan debt you will eventually pay off your loan. Use this calculator to determine how much longer you will need to make these regular payments in order to eventually eliminate the debt obligation and pay off your loan. Loan Information Current loan balance ($) Annual percentage rate (%) Current monthly payment ($) Reset Submit Results Please check the provided inputs above for a missing value.
How much should I save for college? With college costs increasing at twice the rate of inflation, it is important to start saving early. Use our college savings calculator to determine how much you should be saving for college on a regular basis. Current Savings and Assumptions Annual college cost inflation (%) Annual saved so far Current Age College Start Age Years Attending Annual Amount Reset Submit Results Please check the provided inputs above for a missing value. Also remember that current age can't be higher than college start age.
What is the value of a college education? It may surprise you that, on average, an individual with a bachelor's degree earns approximately $66,872 per year, compared to the $37,076 average yearly salary of a worker with a high school diploma. Use this calculator to see the value of a college education. Source: Bureau of Labor Statistics, 2018. Earnings Current age Anticipated annual income (no degree) ($) Anticipated annual income (secondary education) ($) Assumptions Retirement age Annual salary increases (no degree) (%) Annual salary increases (secondary education) (%) Reset Submit Results Please check the provided inputs above for a missing…
What will my monthly payment be? The loan amount, the interest rate, and the term of the loan can have a dramatic effect on the total amount you will eventually pay on a loan. Calculate the payment and see the impact of these variables on a specified loan amount complete with an amortization schedule. Please be advised, the monthly minimum payment must be $50. Loan Information Loan amount ($) Annual interest rate (%) Term of loan (months) Reset Submit Results Please check the provided inputs above for a missing value.
What is the cost of a deferment or forbearance? For a subsidized Stafford loan, Consolidation loan, or any portion of a Consolidation loan that is eligible for federal interest benefits, the borrower is not responsible for paying the interest that accrues on the loan during eligible deferment periods and post-deferment grace periods. During periods of forbearance interest will continue to accrue on subsidized, unsubsidized, and consolidation loans, and the borrower will be responsible to pay it. Loan Information Option type Deferment Forbearance Current loan amount (unsubsidized) ($) Current loan amount (subsidized) ($) Annual interest rate (%) Length of deferment/forbearance (days)…