Financial Aid

Sample Loan Repayment Schedule

All loans borrowed must be repaid.  Several repayment plans are available.  Below is a sample loan repayment schedule:


3.76% Fixed Interest Rate

Balance of
Repayment                   
Number of
Payments
Estimated
Payment
Amount
$1,00021$50
$5,500120$55
$10,000120$100
$15,000120$150
$20,000120$201
$25,000120$251
$30,000120$301


The minimum monthly payment amount is $50 under the 10-year Standard Repayment Plan, but may be more depending on how much you borrow.


You may use the "Repayment Estimate" at https://studentloans.gov/myDirectLoan/repaymentEstimator.action to estimate payment amounts based on your actual loan debt. 

Repayment of Federal Student Loans – Avoiding Default

If you are a student borrower, you don’t have to begin repaying your Stafford loans until you leave school or are enrolled less than half-time.  Failure to repay your loans will result in them defaulting.  This default will have a negative impact on your financial status and creditworthiness.

Please visit https://studentaid.ed.gov/sa/repay-loans/understand/plans for additional information regarding repayment options.