Examples of typical Direct and FFEL Stafford Loan and PLUS Loan Repayment plans, by initial amount of debt and type of repayment plan.
| Initial debt when you enter repayment |
Repayment Options | |||||||||
| Standard (not to exceed 10 years) |
Extended | Graduated (Not to exceed 10 years) |
Income Contingent (income = $25,000) for Direct Loans Only |
|||||||
| Single | Married | |||||||||
| Per Month |
Total Repaid |
Per Month |
Total Repaid |
Per Month |
Total Repaid |
Per Month |
Total Repaid |
Per Month |
Total Repaid |
|
| $3,500 | $50 | $4,471 | Not Available for this loan amount |
$25 | $5,157 | $27 | $6,092 | $25 | $6,405 | |
| $5,000 | $58 | $6,905 | Not Available for this loan amount |
$40 | $7,278 | $38 | $8,703 | $36 | $9,150 | |
| $7,500 | $83 | $10,357 | Not Available for this loan amount |
$59 | $10,919 | $57 | $13,055 | $54 | $13,725 | |
| $10,500 | $121 | $14,500 | Not Available for this loan amount |
$83 | $15,283 | $80 | $18,277 | $76 | $19,215 | |
| $15,000 | $173 | $20,714 | Not Available for this loan amount |
$119 | $21,834 | $114 | $26,110 | $108 | $27,451 | |
| $40,000 | $460 | $55,239 | $277 | $83,289 | $316 | $85,229 | $253 | $72,717 | $197 | $84,352 |
Note: Interest Rate: payments are calculated using the fixed interest rate of 6.8%.
Graduate Repayment Plan: an estimated monthly repayment amount for the first two years of the term and total loan repayment.
The monthly repayment amount will generally increase every two years, based on this plan.
Income-Contingent Repayment Plan: assumes 5% annual growth (Census Bureau) and calculated using the formula requirements in effect during 2006.
HOH is head of household: assumes a family size of two.
