Monthly and Total Payments Under Different Repayment Plans1

  Standard2 Extended Graduated Income Contingent3
Single
Income Contingent3
Married/HOH4
Total Debt When Borrower
Enters Repayment
Per Month Total Payment Per Month Total Payment Per Month Total Payment Per Month Total Payment Per Month Total Payment
$2,500 $50 $3,074 $50 $3,074 $25 $4,029 $23 $4,512 $22 $4,662
$5,000 $61 $7,360 $55 $7,893 $35 $8,646 $45 $9,023 $43 $9,325
$7,500 $92 $11,039 $82 $11,840 $53 $12,970 $68 $13,535 $65 $13,987
$10,000 $123 $14,718 $97 $17,462 $69 $19,175 $91 $18,046 $86 $18,650
$15,000 $184 $22,078 $146 $26,194 $103 $28,762 $136 $27,070 $129 $27,974
$20,000 $245 $29,437 $170 $40,898 $138 $44,423 $181 $36,093 $172 $37,299
$25,000 $307 $36,796 $213 $51,125 $172 $55,529 $227 $45,116 $215 $46,624
1Payments are calculated using the maximum interest rate of 8.25% for student borrowers
2Equal and fixed monthly payments = $50 minimum for the Standard Plan
3Income Contingent Plan assumes $25,000 income and a 5% annual income growth
4HOH is Head of Household - assumes a family size of two