Sample repayment amounts
The following are
estimated repayment amounts using the AAMC/ADEA Dental Loan
Organizer and Calculator,
with the following assumptions:
- $241,097 total student loan
debt ($162,000 Stafford, remainder in Grad PLUS).
- Interest rates of 6.21% and
7.21% fixed for Unsubsidized Stafford and Grad PLUS, respectively.
- No aggressive repayment.
- Starting salary (from American Dental
Association) of $184,140 (used for Income-Based Repayment [IBR] and Pay As
You Earn [PAYE] repayment plans).
- Single and family size of one (used
for IBR and PAYE repayment plans).
Standard 10 year
- $3,184 per month for 10 years.
- $382,092 total repayment.
- $140,995 total interest cost.
Extended 25 year
- $1,898 per month for 25 years.
- $569,350 total repayment.
- $328,253 total interest cost.
Income-Based Repayment
- $2,055 per month for first 12
months.
- Payments change each year based
on income and family size.
Pay As You Earn
- $1,370 per month for first 12
months.
- Payments change each year based
on income and family size
*Find more information
on repayment plans at www.StudentLoans.gov under Managing Repayment.