The MPOWER loan calculator is your go-to simple tool for understanding your estimated monthly payments with just a few clicks. You can:
1. Choose your loan amount up to MPOWER’s $100,000 limit.
2. Toggle the repayment term up to 10 years, to figure out a plan that works for you and your financial goals.
3. Toggle the interest rate to see how it affects your monthly payments.
4. Get estimates for both your in-school interest-only payments and your principal + interest payments.
Try it now and see what your repayment journey could look like.
Additional details:
- While you're in school, you'll only make interest-only payments on your loan.
- During the in-school period and the six month maximum postgraduation grace period that follows the in-school period, you are required to make interest-only payments. The combined duration of the in-school period and grace period may not exceed 30 months (2.5 years). The maximum post-graduation grace period is six months. After this period ends, principal and interest payments will begin.
