Federal Student Aid has provided a short video with information about what to expect when entering repayment.
To view the total amount of federal loans that you have borrowed, you can go to nslds.ed.gov and log in to view the breakdown of subsidized, unsubsidized, and total loan amounts borrowed, as well as the Loan Servicer assigned. You will want to contact the servicer listed, to discuss the various repayment options offered, and select the one that is best for you.
You can also go to the Repayment Estimator on www.studentaid.gov to get an idea of the various options available, and what the current and future payments would entail.
Balance at Repayment |
4.45%Monthly Payment* |
5%Monthly Payment* |
7%Monthly Payment* |
10.50%Monthly Payment* |
$5,000 | $52 | $53 | $58 | $67 |
$10,000 | $103 | $106 | $116 | $135 |
$20,000 | $207 | $212 | $232 | $270 |
$40,000 | $414 | $424 | $464 | $540 |
* Monthly payment rate is based on a 10-year (120 month) plan