See your true repayment cost and get an AI-powered ROI analysis based on your expected salary.
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Rate ranges reflect typical market data; see our methodology for sources.
Rates shown are illustrative ranges for the selected credit profile as of 2026. Federal loan benefits (income-driven repayment, forgiveness) are lost when refinancing. This is not financial advice.
This analysis is based on the figures you entered and is for informational purposes only. Rate ranges are illustrative. RateCompas is not a lender, broker, credit counselor, or financial advisor, and may receive compensation from lenders featured on our site. Consult a licensed professional before making borrowing decisions.
Federal loans offer fixed rates, income-driven repayment plans, deferment options, and forgiveness programs. Private loans are credit-based and may offer lower rates to strong borrowers but have fewer protections. Exhaust federal loan eligibility before considering private.
A common rule is to borrow no more than your expected first-year salary. If you expect to earn $55,000 after graduation, total loans above $55,000 will likely leave you stretched. The calculator's payment-as-percent-of-income view shows where you fall.
A creditworthy co-signer can reduce your interest rate by 1-4 percentage points, saving thousands over the life of the loan. The calculator's co-signer comparison shows your exact savings. Most private lenders allow co-signer release after 12-48 on-time payments.
Refinancing federal loans into private loans permanently gives up benefits like income-driven repayment and forgiveness programs. Refinance only if you have stable income, strong credit, and no plans to pursue PSLF or income-driven repayment.
Federal income-driven repayment plans cap your monthly payment at 10-20% of your discretionary income. After 20-25 years of qualifying payments, remaining balances are forgiven (though forgiven amounts may be taxable depending on the plan and current tax law).
Most financial advisors recommend that total monthly loan payments stay below 10% of your gross monthly income. If payments exceed 15%, you will likely struggle with rent, retirement savings, and other goals.