Loan Details
Payment Breakdown
Amortization Schedule
| Payment # | Principal | Interest | Balance |
|---|
Compare Repayment Strategies
See how different federal repayment plans affect your monthly payment and total interest.
Standard Repayment
Monthly: $0
Total Paid: $0
10 Years
Graduated Repayment
Starting: $0
Total Paid: $0
10 Years
Extended Repayment
Monthly: $0
Total Paid: $0
25 Years
Income-Driven (IBR)
Estimated: $0
With Forgiveness*
20-25 Years
Income-Driven Plans Calculator
Extra Payment Impact Calculator
See how extra payments can save you thousands and cut years off your loan.
Should You Refinance?
Compare your current loan with refinancing options to see if you should refinance.
Current Loan
Balance: $0
Rate: 0%
Monthly: $0
Remaining Interest: $0
New Loan Offer
Student Loan Education Center
Understanding Interest Capitalization
Interest capitalization occurs when unpaid interest is added to your principal balance. This commonly happens when you enter repayment after school, change repayment plans, or exit forbearance/deferment. Avoiding capitalization can save you thousands.
- Pay interest during school if possible
- Make interest payments during grace period
- Avoid unnecessary forbearance
Federal Loan Forgiveness Programs
Public Service Loan Forgiveness (PSLF): Complete forgiveness after 120 qualifying payments while working for eligible employers.
Teacher Loan Forgiveness: Up to $17,500 forgiveness for teaching 5 years in low-income schools.
Income-Driven Forgiveness: Remaining balance forgiven after 20-25 years of qualifying payments.
Smart Repayment Strategies
Avalanche Method: Pay minimums on all loans, then attack the highest interest rate first.
Snowball Method: Pay minimums on all loans, then attack the smallest balance first for psychological wins.
Hybrid Approach: Start with small wins, then switch to high-interest loans.
When to Consider Refinancing
- ✅ Your credit score has improved significantly since graduation
- ✅ Interest rates have dropped below your current rate
- ✅ You have stable income and don't need federal protections
- ❌ You're pursuing PSLF or other federal forgiveness
- ❌ You may need income-driven repayment options
- ❌ Job security is uncertain