Student Loan Services - Calculate Your Monthly Interest

 

Calculate your monthly interest payment by following the steps listed below.

STEP 1 Multiply the interest rate by the unsubsidized loan amount.
Example: Interest Rate x Loan Amount
6.8% x $5,000.00 = $340.00
 
STEP 2 Divide the result of Step 1 by the number of days in the current year.
Example: $340.00/ 365 days = $.94
 
STEP 3 Multiply the result of step 2 by number of days in month.
Example: $.94 x 30 = $28.20

Example: Your monthly interest payment would be $28.20.