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Loan Simulator helps you estimate monthly student loan payments and choose a loan repayment option that best meets your needs and goals. You can also use it to decide whether to consolidate your student loans.
Figuring out which student loan repayment plan is right for you is a little easier with Loan Simulator, our student loan repayment calculator. The tool helps you review different student loan repayment plans and compare estimated monthly payments, total paid over time, and more.
Loan Repayment Calculator. You can estimate your payments with various interest rates and loan terms using this calculator. Please enter the amount of your loan, the annual interest rate, and the number of repayment months to compute your monthly payment amount. All fields are required.
Loan Simulator helps you calculate your federal student loan payment and choose a repayment plan that meets your needs and goals.
Once you graduate, drop below half-time enrollment, or leave school, your federal student loan goes into repayment. However, if you have a Direct Subsidized, Direct Unsubsidized, or Federal Family Education Loan, you have a six-month grace period before you are required to start making regular payments. You’ll have a nine-month grace period if you’ve got a Perkins Loan.
The student may want to use the Federal Student Aid Estimator before filling out the FAFSA form to help them understand their options for paying for college or career school by providing them an early estimate of how much federal student aid they may be eligible for. Start Estimate.
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We use this information to estimate your adjusted gross income (AGI) and determine your family size. We then use the estimated AGI and your family size to calculate your payment amount for income-driven repayment plans.
Use the Loan Simulator on StudentAid.gov. In addition to providing you with your estimated monthly payment amount on IBR, the estimator will display monthly payment amounts for all repayment plans so you can select the plan that is right for you. Loan Simulator.
20 percent of discretionary income, or. the amount you would pay on a repayment plan with a fixed payment over 12 years, adjusted according to your income. Payments are recalculated each year and are based on your updated income, family size, and the total amount of your Direct Loans.