The monthly payment on a $100,000 student loan ranges from $1,061 to $8,979, depending on the APR and how long the loan lasts. For example, if you take out a $100,000 student loan and pay it back in 10 years at an APR of 5%, your monthly payment will be $1,061. But if you pay off a $100,000 student loan in one year at a 14% APR, your monthly payment will be $8,979.
The standard payoff period for a student loan is up to 10 years, and student loan APRs generally range between 5% and 14%. Private student loans tend to have higher maximum APRs than federal loans, however.
Below are the monthly payments that you can expect on a $100,000 student loan with different payoff periods. The table assumes you will be paying interest at an APR of 6%, which is roughly the average student loan APR.
Example Monthly Payments on a $100,000 Student Loan
| Payoff period | APR | Monthly payment | Total interest over life of loan |
| 1 year | 6% | $8,607 | $3,280 |
| 3 years | 6% | $3,042 | $9,519 |
| 5 years | 6% | $1,933 | $15,997 |
| 7 years | 6% | $1,461 | $22,712 |
| 9 years | 6% | $1,201 | $29,662 |
| 10 years | 6% | $1,110 | $33,225 |
If you'd like to try out any other combinations of payoff periods and interest rates before you apply, you can use WalletHub's free student loan calculator.
Once you get approved for a student loan, you will receive information on exactly what your monthly payment will be. And you'll be able to access that information any time through your online account or by looking at one of your monthly bills.
This answer was first published on 09/24/21. For the most current information about a financial product, you should always check and confirm accuracy with the offering financial institution. Editorial and user-generated content is not provided, reviewed or endorsed by any company.
FAQs
How long does paying off $100K in student loans take? Although the standard repayment plan is typically 10 years, some loans and repayment plans have longer terms, so you could be repaying for 20 or even 30 years.
How much monthly payment for a 100K student loan? ›
The standard repayment plan
| Debt amount | Interest rate for Direct Unsubsidized undergraduate loans (2023–2024 rates) | Monthly payment under the 10-year standard repayment plan |
|---|
| $80,000 | 5.50% | $868 |
| $100,000 | 5.50% | $1,085 |
| $120,000 | 5.50% | $1,302 |
May 28, 2024
How long does paying off $100K in student loans take? Although the standard repayment plan is typically 10 years, some loans and repayment plans have longer terms, so you could be repaying for 20 or even 30 years.
What is the payment on a 100K loan? ›
Monthly payments for a $100,000 mortgage
| Annual Percentage Rate (APR) | Monthly payment (15-year) | Monthly payment (30-year) |
|---|
| 6.50% | $871.11 | $632.07 |
| 6.75% | $884.91 | $648.60 |
| 7.00% | $898.83 | $665.30 |
| 7.25% | $912.86 | $682.18 |
5 more rowsAverage student debt by degree
Some graduate students leave school with six figures of debt. In the 2019-20 school year, 13% of those who earned master's degrees, 13% of doctoral program graduates, and 57% of professional degree recipients took out $100,000 or more to pay for college and graduate school.
What is the minimum income for a 100k loan? ›
A $100,000 mortgage comes with a monthly payment around $840. Your lender will look for income in the $28,000 range to make that monthly payment, assuming you don't have debt already from a car payment or student loan, for example.
How much does the average person pay a month for student loans? ›
The average monthly student loan payment is an estimated $503 based on previously recorded average payments and median average salaries among college graduates. The average borrower takes 20 years to repay their student loan debt.
How much credit do you need to get a 100k loan? ›
To qualify for a $100,000 personal loan, you'll need a credit score of 720 or above and a high income. Large unsecured loans tend to be expensive because they have high interest rates and long loan terms.
What is 5% interest on $100,000? ›
Annual compound interest earnings:
At 5.00%, your $100,000 would earn $5,000 per year.
Is it easy to borrow 100k? ›
You can loan £100k with an unsecured loan if you have a strong credit score. In most cases, the funds will be paid to you. However, if you have a bad or less than perfect credit score, you can use your home or property as collateral.
If you're a recent college graduate with a mountain of student loan debt — say $100,000 or more — paying off such a large amount could be a major struggle. For example, if you're making payments on federal student loans under the standard 10-year repayment plan, your minimum monthly payment might be quite daunting.
Why are student loans so hard to pay off? ›
Interest can make student loans more expensive, while inflation can make that debt harder to manage alongside other bills. Paying off some of your debt during your studies could ease the burden later on and save you money on interest.
What is the average student loan debt for a bachelor's degree? ›
The average student loan debt for bachelor's degree recipients was $29,400 for the 2021-22 school year, according to the College Board. Among all borrowers, the average balance is $38,290, according to mid-2023 data from Experian, one of the three national credit bureaus.
Is 100k alot for student loans? ›
If you're a recent college graduate with a mountain of student loan debt — say $100,000 or more — paying off such a large amount could be a major struggle. For example, if you're making payments on federal student loans under the standard 10-year repayment plan, your minimum monthly payment might be quite daunting.
How much is the monthly payment on a 130k student loan? ›
Example Monthly Payments on a $130,000 Student Loan
| Payoff period | APR | Monthly payment |
|---|
| 1 year | 6% | $11,189 |
| 3 years | 6% | $3,955 |
| 5 years | 6% | $2,513 |
| 7 years | 6% | $1,899 |
2 more rowsSep 24, 2021
The monthly payment on a $10,000 student loan ranges from $106 to $898, depending on the APR and how long the loan lasts. For example, if you take out a $10,000 student loan and pay it back in 10 years at an APR of 5%, your monthly payment will be $106.
How much is a 200 000 student loan monthly? ›
Decide on a repayment strategy
| Repayment plan | Monthly payment |
|---|
| Standard repayment | $2,426 |
| Income-Based Repayment (IBR) | $538(first payment) to $1,525(last payment) |
| Pay As You Earn (PAYE) | $538(first payment) to $1,525(last payment) |
| Revised Pay As You Earn (REPAYE) | $538(first payment) to $1,988(last payment) |
