SAMPLE MONTHLY LOAN REPAYMENTS
Under a Standard 10-Year Repayment Plan
The following are sample monthly loan repayments under a standard 10-year repayment plan. Standard repayment is the one in which a borrower pays the least interest overall
The chart displays repayments at four typical interest rates - 3.4%, 5.0%, 6.8% and 7.0% for loan amounts in $5,000 increments up to $30,000. For example, if a student borrows $20,000 at 6.8%, the payment for principal and interest is $230 a month for 10 years.
| Loan Amount | 3.4% | 5.0% | 6.8% | 7.0% |
|---|---|---|---|---|
| $5,000 | $50 | $53 | $58 | $58 |
| $10,000 | $98 | $106 | $115 | $116 |
| $15,000 | $148 | $159 | $173 | $174 |
| $20,000 | $197 | $212 | $230 | $232 |
| $25,000 | $246 | $265 | $288 | $290 |
| $30,000 | $295 | $318 | $345 | $348 |
Loan exit counseling
If you borrowed a Federal Direct Stafford Loan, Federal Perkins Loan or Federal Direct Graduate PLUS Loan, you are required by federal law and MIT policy complete an exit interview online before graduation. If you borrowed an MIT Technology Loan, contact your loan counselor to schedule an exit interview. Required reading: the SFS loan exit counseling guide.
Loan entrance counseling
Online counseling via WebSIS is required for all first-time borrowers of Federal Direct Loans, Federal Perkins Loans and MIT Technology Loans.
Campus Partners
Campus Partners handles billing and payment for Federal Perkins Loans and MIT Technology Loans.
Direct Loan Servicing Ctr.
The DLSC handles billing and payment for Federal Direct Loans and Graduate PLUS Loans.
Loan payment calculator
Estimate your loan payments.
These two printable charts can help you compare loans available to undergraduates and their families, and loans available to graduate students.
Undergraduate loans Graduate loans