When using the calculator, you must enter a value in all fields. A zero value must be entered in fields you wish to have as a zero. Do not include dollar signs, decimals, or commas. Once you have entered the values, click the calculate button and estimated initial monthly payment amounts for each repayment plan will appear.

Interest Rates

Interest rates for Stafford loans first disbursed on or after July 1, 1998, and through June 30, 2006, have been updated for the period July 1, 2008, through June 30, 2009: the rate for loans in repayment is 4.21%; during in-school, grace, and deferment periods, the rate is 3.61%. Similarly, for PLUS loans disbursed between July 1, 1998, and June 30, 2006, the interest rate is now 5.01%.

The interest rate for new Stafford loans first disbursed on or after July 1, 2006, is a fixed 6.80%, with one exception: new subsidized Stafford loans disbursed on or after July 1, 2008, to undergraduate students have an interest rate of 6.00%. The interest rate for new PLUS loans is a fixed 7.90%. The rate in the calculator is set at 6.80% for Stafford and 7.90% for PLUS loans. For loans with other rates, you will need to type that rate in the appropriate field. For Direct consolidation loan interest rates, see that rate page for information.

CALCULATIONS ARE ESTIMATES. VALUES MAY NOT REFLECT THE ACTUAL AMOUNT COMPUTED BY THE DIRECT LOAN SERVICING CENTER.