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Debt Management

Examples of Debt Levels

Examples of Debt Levels, Beginning Monthly Payments, and Total Amounts Repaid
for All Direct Loan Repayment Plans1
Initial Debt When Loan Enters Repayment Standard Extended2, 3 Graduated Income Contingent5, 6
Per Month Total Per Month Total Per Month4 Total Income = $15,000 Income = $25,000 Income = $45,000
Single Married/HOH7 Single Married/HOH7 Single Married/HOH7
Per Month Total Per Month Total Per Month Total Per Month Total Per Month Total Per Month Total
$3,500 $50 $4,471 Not Available $25 $5,157 $21 $6,939 $20 $6,673 $27 $6,092 $25 $6,405 $36 $5,128 $36 $5,128
5,000 58 6,907 Not Available 40 7,278 30 9,912 29 9,533 38 8,703 36 9,150 51 7,326 51 7,326
7,500 86 10,357 Not Available 59 10,919 45 14,868 30 14,019 57 13,055 54 13,725 76 10,989 76 10,989
10,500 121 14,500 Not Available 83 15,283 64 20,815 30 18,877 80 18,277 76 19,215 107 15,385 107 15,385
15,000 173 20,714 Not Available 119 21,834 87 29,685 30 25,229 114 26,110 108 27,451 153 21,978 153 21,978
18,500 213 25,548 Not Available 146 26,929 87 35,992 30 29,465 140 32,203 134 33,856 188 27,106 188 27,106
23,000 265 31,762 Not Available 182 33,479 87 43,141 30 34,128 174 40,036 166 42,091 234 33,699 234 33,699
30,000 345 41,429 Not Available 237 43,668 87 52,340 30 39,756 228 52,221 197 55,743 407 43,956 407 43,956
40,000 460 55,239 277 83,289 316 58,229 87 62,005 30 44,827 253 72,717 197 84,352 468 58,608 468 58,608
46,000 529 63,524 319 95,782 363 66,956 87 66,084 30 46,378 253 89,828 197 105,472 509 67,399 509 67,399
50,000 575 69,048 347 104,111 395 72,778 87 68,153 30 46,860 253 103,268 197 111,575 587 73,260 587 73,260
60,000 690 82,858 391 140,816 474 87,334 87 71,219 30 46,934 253 136,615 197 124,085 587 88,251 587 88,251
70,000 806 96,667 456 164,285 535 101,890 87 71,721 30 46,934 253 148,551 197 133,106 587 106,551 587 106,551
80,000 920 110,477 522 187,754 632 116,445 87 71,721 30 46,934 253 157,373 197 138,907 587 128,146 587 128,146
90,000 1,036 124,287 587 211,224 711 131,002 87 71,721 30 46,934 253 163,227 197 141,925 587 152,967 587 152,967
100,000 1,151 138,096 652 234,693 790 145,556 87 71,721 30 46,934 253 166,457 197 142,386 587 181,224 587 181,224
110,000 1,266 151,906 717 258,162 869 160,111 87 71,721 30 46,934 253 167,172 197 142,386 587 213,785 587 213,485
120,000 1,381 165,716 782 281,632 948 174,668 87 71,721 30 46,934 253 167,172 197 142,386 587 250,281 587 250,281
130,000 1,496 179,525 848 305,101 1,024 189,224 87 71,721 30 46,934 253 167,172 197 142,386 587 292,313 587 292,313
138,500 1,594 191,264 903 325,050 1,094 201,596 87 71,721 30 46,934 253 167,172 197 142,386 587 332,912 587 332,912

1 Payments are estimated using the fixed interest rate of 6.8% for loans made to students on or after July 1, 2006.

2 This payment plan is available to borrowers who had no outstanding balance on a Direct Loan on Oct. 7, 1998, or on the date the borrower obtained a
Direct Loan on or after Oct. 7, 1998, and if the borrower has an outstanding Direct Loan balance that exceeds $30,000.

3 These amounts are fixed, rounded to the nearest dollar and calculated based on a 25-year repayment term.

4 This is your beginning payment, which may increase during a 10-year repayment term.

5 Assumes a 5% annual income growth (U.S. Census Bureau).

6 The estimated payments were calculated using the formula requirements in effect during 2006.

7 HOH is Head of Household. Assumes a family size of two.

This information was developed by the U.S. Department of Education.

 

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