Enter your desired payment – and let us calculate your loan amount. Or, enter in the loan amount and we will calculate your monthly payment. You can then examine your principal balances by payment, total of all payments made, and total interest paid. Press the report button to see a monthly payment schedule.

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Accrued Interest: The interest that accumulates and is payable on the unpaid principal balance of a loan.
Adjusted Gross Income (AGI): A figure based on tax return information that is used for determining eligibility for an Economic Hardship Deferment and Income Based Repayment (IBR). It would include taxable income such as:

  • Income from employment
  • Unemployment income
  • Dividend income
  • Interest income
  • Tips
  • Alimony

It does not include untaxed income such as Supplemental Security Income, child support, or federal or state public assistance.

Consolidation: Combining numerous federal education loans into a single loan with a new repayment schedule and interest rate.

Fixed Interest Rate: A loan with a pre-established interest rate that does not change during a defined period of time. Currently, federal Stafford, Parent PLUS, and Student PLUS Loans have interest rates that are fixed by law for the life of the loan

Interest: The charge for using a lender’s money.

Principal Balance: The principal balance on your billing statement includes the original amount you borrowed, plus any applicable loan fees, less any principal payments. It does not include accrued interest but may include interest that was capitalized when your loans entered repayment.

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Term In months: This is the amount of time specified by the loan provider for an individual to satisfy (pay-off) their loan. Remember, when you are paying interest on a loan, the more months that it takes for you to pay of your loan, the more interest you are paying. This is important because the faster you pay off your debt, the less that debt is costing you in interest