Your monthly payment amount will depend on your loan amount and interest rate. You can check your estimated monthly payment amount using our Loan Payment Estimator.

Example Loan:
Let's say your loan amount is $10,000 and your interest rate is 11.99% (11.60% APR¹). If you qualify for all interest rate discounts, your monthly interest-only payment would be $100.54 for the first 6 months and $96.16 for the next 8 months. You would be required to make this interest-only payment while in school as well as for 6 months after graduation. After the 6-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.