Office of Financial Aid
Graduate School
Loan Entrance and Exit Counseling
Students should be careful to avoid borrowing excessively. A reasonable monthly student loan payment should not exceed 8-10 percent of one's monthly gross income (You may use the Budget Calculator and Loan Payment Calculator on the Federal Student Aid website). See the chart at the end of this page for sample loan repayment amounts.
Loan Entrance Counseling
Prior to borrowing their first Stafford or Grad PLUS educational loan, students are required to complete loan entrance counseling to ensure they understand their rights and responsibilities. Borrowers must complete this online counseling prior to the disbursement of their loan.
- Direct Stafford Loan Entrance Counseling (Federal Student Loan Servicing website)
- Direct PLUS Loan Entrance Counseling (Federal Student Loan Servicing website)
Loan Exit Counseling
Upon graduation (or dropping below half-time status), students will complete loan exit counseling to prepare for entering repayment.
- Stafford Loan Exit Counseling (located on the Mapping Your Future website)
- Grad PLUS Loan Exit Counseling (located on the Mapping Your Future website)
Sample Repayment Chart
| Sample Loan Repayment Chart Based on 10 year Repayment Period | ||
| Stafford Loans | Grad PLUS Loans | |
| 6.80% | 8.50% | |
| Amount Borrowed | Estimated Monthly Payment | Estimated Monthly Payment |
|
$ 3,500 |
$ 50 |
$ 50 |
|
$ 5,500 |
$ 63 |
$ 68 |
|
$ 10,500 |
$ 121 |
$ 130 |
|
$ 20,000 |
$ 230 |
$ 248 |
|
$ 25,000 |
$ 288 |
$ 310 |
|
$ 40,000 |
$ 460 |
$ 496 |
|
$ 50,000 |
$ 575 |
$ 620 |
|
$ 75,000 |
$ 863 |
$ 930 |
|
$ 100,000 |
$ 1,151 |
$ 1,240 |
|
$ 138,000 |
$ 1,588 |
$ 1,711 |