Federal Perkins Loan Sample Repayment Chart
To assist you with determining the amount of loan you can afford to borrow, we are pleased to provide you with a sample repayment chart for the Federal Perkins Loan. Repayment of the Federal Perkins Loan begins 9 months after the borrower is no longer enrolled at least half-time. The following chart is based on a 5% interest rate.
| Amount Borrowed | Number of Payments | Payment per Month |
|---|---|---|
| $1,000.00 | 26 | $40.00 |
| $2,500.00 | 71 | $40.74 |
| $4,000.00 | 120 | $42.42 |
| $5,500.00 | 120 | $58.33 |
| $7,000.00 | 120 | $74.24 |
| $8,500.00 | 120 | $90.15 |
| $10,000.00 | 120 | $106.06 |
| $12,000.00 | 120 | $127.27 |
| $14,000.00 | 120 | $148.49 |
| $16,000.00 | 120 | $169.70 |