Comparison of Options

Income-Based Repayment (IBR) Table
  Standard Graduated Income
Sensitive
Extended
Stafford Loan Repayment Option Comparison
Amount

$50,000

$50,000

$50,000

$50,000

Monthly
Payment

$576

Begins at $281 and rises to $677

Begins at $281 and rises to $576

$347

Repayment
Years

10-year term

10-year term

15-year term (but this can vary)

25-year term

Total Paid
(Loan + Interest)

$69,060

$71,676

$85,890

$104,111

Assumptions

A subsidized Stafford loan repaid at 6.80% interest, assuming the standard repayment plan of 10 years, or 120 payments

A subsidized Stafford loan repaid at 6.80% interest, assuming the standard repayment plan of 10 years with the first two years being interest only

A subsidized Stafford loan repaid at 6.80% interest with minimum possible payment of interest only

A subsidized Stafford loan repaid at 6.80% interest, assuming an extended repayment plan of 25 years