Your monthly payment amount will depend on your loan amount and interest rate. If you qualify for discounts, your payments would work as follows: For a loan amount of $10,000 at an interest rate of 11.99% (11.60% APR¹), your monthly interest-only payment would be $100.54 for the first six months and $96.16 for the next eight months. You would be required to make this interest-only payment while in school as well as for six months after graduation. After the six-month interest-only period ends, you would be required to make interest and principal payments of $141.62 each month for the next 120 months.