Monthly payment amounts presented here are estimates only and are based on several assumptions that may not apply to you. To discuss actual monthly payment amounts, contact your loan servicer.
Repayment Period - We assume that you have just entered repayment and estimate your payments assuming that you still have the full repayment period to repay your loans. For example, we estimate your payments under the Extended Repayment Plan using a 25-year repayment period, even if you have less than 25 years remaining. We also assume that you'll pay continuously throughout the repayment period with no breaks for deferment or forbearance.
Discretionary Income - We assume that your income will grow 5% each year, that your family size will remain the same during the life of the loan, and that the poverty guidelines will increase based on the Congressional Budget Office's estimation of inflation.
Variable interest rates - For loans with variable interest rates, we assume that the current interest rate won't change during the life of the loan.
Consolidation Loans - We assume that Direct and FFEL Consolidation Loans don't contain any underlying loans made to parents, which are ineligible for the REPAYE, PAYE, and IBR plans.