18. Payment Schedules

Example: If you borrow $10,000 in student loans, your yearly salary should be $18,150 in order to meet your payments.

Federal Family Education Loan Program Projected Monthly Payment Schedule
Amount Borrowed	Number of Payments	Monthly Payment*	Recommended Annual Salary**
$2,000	47/10 years	$50	$7,500
$4,000	108/10 years	$52	$7,850
$5,000	120/10 years	$61	$9,150
$7,500	120/10 years	$91	$13,650
$8,000	120/10 years	$97	$14,550
$10,000	120/10 years	$121	$18,150
$15,000	120/10 years	$182	$27,300
$20,000	120/10 years	$243	$36,450
$25,000	120/10 years	$303	$45,450
$30,000	120/10 years	$364	$54,600
$40,000	120/10 years	$485	$72,750
$50,000	120/10 years	$607	$91,050
$60,000	120/10 years	$728	$109,200
$75,000	120/10 years	$910	$136,500

* Based on an 8% interest rate.

** Recommended salary levels are based on 8 percent of income available for student loan payment.