Help with figuring out future payments

Paying for College
1

<p>If as an undergraduate I elect to take the entire stafford for the four years and I elect to defer the interest and principal payments after I graduate, how do I figure what will my payment be. On the governement website it has a calculator for the stafford loan. If I put in $5500 it gives me a broad range of repayment options. But when I actually start paying off the loan (4 1/2 years from now), the $5500 will actually be much higher because of all the accrued interest. So is that number correct or not correct.</p>

<p>As an undergraduate, I will probably take out the entire $27,000 for undergraduate for stafford which includes the subsidized and unsubsidized. I'm just trying to get an estimate of what my payment might be for 10 years if I defer the interest and principal each year while in school. Currently on the calculator if I put in the entire 27,000, the 10 year payment is either $310 standard or $214 graduated. Just doesn't seem right. I would think it would be 27,000 plus all the accrued interest.</p>

<p>Any help is greatly appreciated or links to better calculators.</p>

2

<p>There are a variety of calculators on finaid.org - you’ll have to use the cost of interest capitalization one in combination with one of the standard to get the result you need, if you want exact figures. Remember, the subsidized and unsub loans are at different rates as well.</p>

<p><a href=“Your Guide for College Financial Aid - Finaid”>http://www.finaid.org/calculators/&lt;/a&gt;&lt;/p&gt;