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Monthly Payment Calculator

monthly student loan payment

Use this calculator to estimate your monthly loan payment and see a breakdown of your payments over the life of the loan.

IMPORTANT FACTS: This calculator provides estimates intended for use only as a planning guide. Results are based on a standard repayment plan, where you pay a fixed amount every month for a set number of months, based on your loan term, and assumes:

    A fixed interest rate and does not account for a variable interest rate; No fees and no payments are applied toward principal or interest while in school or during your 6 or 9-month grace

    period; Your final year of study is 9-months long; and A minimum monthly payment amount of $50.00.

We do not guarantee the calculator's accuracy or applicability to your circumstances, and we encourage you to consult a qualified professional for assistance in analyzing your overall financial situation.

Grace Period

A period of time when the student is not required to make student loan payments. Payments typically begin six or nine months (grace period) after you graduate, leave school or drop your enrollment status below half-time. For specifics, check your loan documents.

Category: Credit

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