Repayment
Examples
The terms of your loan can vary depending on automatic payments, Loan Servicer, type of loan, interest rates, and amount borrowed. Use the tables below to give you an idea of your possible payments.
Standard Repayment Table - Shows sample payments for various Stafford
Loan amounts on a Standard Repayment schedule with a 10-year repayment
period at the current interest rate of 6.80%.*
10-Year Repayment Table
|
Total Amount Borrowed |
Current Monthly Payment
(based on 6.80%)*
|
| $5,000 |
$57.54 |
| $10,000 |
$115.08 |
| $15,000 |
$172.62 |
| $20,000 |
$230.16 |
| $25,000 |
$287.70 |
| $30,000 |
$345.24 |
| $35,000 |
$402.78 |
Repayment Options Comparison Table - Compares three different
repayment options for a $15,000 Subsidized Stafford Loan at the
current rate of 6.80%. Call 1-800-MONEY:101 (1-800-666-3910) to determine
your actual repayment amount.
Repayment Options Comparison Table
| |
Standard Repayment |
Graduated Repayment |
Income-
Sensitive Repayment
(based on gross monthly salary of $2,000) |
| Repayment Period | 120 payments (10 years) | 120 payments (10 years) | 132 payments (11 years) |
| Starting Monthly Payment |
$172.62 |
$85 |
$85 (year 1) |
| Ending Monthly Payment |
$172.62 |
$249 |
$173
(Years 2 through 11) |
| Interest Paid |
$5,714.47 |
$7,183 |
$6,734.46 |
| Total Amount Paid |
$20,714.49 |
$22,813 |
$21,734.46 |
Standard Repayment is often your best option, since you would pay
the least amount of interest over the life of your loan. Learn more
about all your repayment
options.
* Interest rates are effective 7-1-2006. The rates and other information set forth above have been obtained from sources deemed reliable, but do not constitute representations of Commerce Bank, nor shall this be considered an offer by Commerce Bank to fund any loan at rates other than those established by the United States Department of Education.
Questions?
When you're ready to start paying off your loan, we're here to help.
We'll ask listen solve to help you find the solution
that is right for you.
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