The monthly payment on a $180,000 student loan ranges from $1,909 to $16,162, depending on the APR and how long the loan lasts. For example, if you take out a $180,000 student loan and pay it back in 10 years at an APR of 5%, your monthly payment will be $1,909. But if you pay off a $180,000 student loan in one year at a 14% APR, your monthly payment will be $16,162.
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 $180,000 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 $180,000 Student Loan
| Payoff period | APR | Monthly payment | Total interest over life of loan |
| 1 year | 6% | $15,492 | $5,903 |
| 3 years | 6% | $5,476 | $17,134 |
| 5 years | 6% | $3,480 | $28,794 |
| 7 years | 6% | $2,630 | $40,881 |
| 9 years | 6% | $2,161 | $53,392 |
| 10 years | 6% | $1,998 | $59,804 |
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
The monthly payment on a $150,000 student loan ranges from $1,591 to $13,468, depending on the APR and how long the loan lasts. For example, if you take out a $150,000 student loan and pay it back in 10 years at an APR of 5%, your monthly payment will be $1,591.
What is the monthly payment on a 150000 student loan? ›
The monthly payment on a $150,000 student loan ranges from $1,591 to $13,468, depending on the APR and how long the loan lasts. For example, if you take out a $150,000 student loan and pay it back in 10 years at an APR of 5%, your monthly payment will be $1,591.
How much is the student loan payment on 190000? ›
But if you pay off a $190,000 student loan in one year at a 14% APR, your monthly payment will be $17,060. 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.
How much income do you need for a 200k loan? ›
What income is required for a 200k mortgage? To be approved for a $200,000 mortgage with a minimum down payment of 3.5 percent, you will need an approximate income of $62,000 annually.
How much is a 150k loan per month? ›
A $150,000 30-year mortgage with a 6% interest rate comes with about an $899 monthly payment. The exact costs will depend on your loan's term and other details.
Do student loans affect credit scores? ›
Having a student loan will affect your credit score. Your student loan amount and payment history are a part of your credit report. Your credit reports—which impact your credit score—will contain information about your student loans, including: Amount that you owe on your loans.
What is a reasonable monthly student loan payment? ›
Student loan payments vary depending on the loan amount, interest rate and repayment period. The average student loan payment is between $200 and $299, according to the most recent available data from the Federal Reserve.
What is the average student loan debt for a bachelor's degree? ›
Average student loan debt in America
51% of 2021-22 bachelor's degree recipients graduated with an average of $29,400 in student loan debt. Among all borrowers, the average student loan debt in 2023 was $38,787. 53% of federal student loan borrowers owe $20,000 or less.
How much is a $20000 loan over 5 years? ›
A $20,000 loan at 5% for 60 months (5 years) will cost you a total of $22,645.48, whereas the same loan at 3% will cost you $21,562.43. That's a savings of $1,083.05. That same wise shopper will look not only at the interest rate but also the length of the loan.
How much is a $200000 student loan monthly? ›
Make extra payments
However, paying extra might help get you out of debt significantly faster. Let's say you have $200,000 in student loans at 6% interest on a 10-year repayment term. Your monthly payments would be $2,220.
What is considered a lot of student loan debt? A lot of student loan debt is more than you can afford to repay after graduation. For many this means having more than $70,000 – $100,000 of total student debt.
What is a typical student loan monthly payment? ›
Average Student Loan Payments
As of May 30, 2023, the average monthly payment for federal student loans was estimated to be about $500 per month when adjusted for inflation. However, the final number depends on the type of loan, loan amount, interest rates, and repayment plan.
How many students have borrowed over 200000 for college? ›
About 3% of California borrowers owe more than $200,000.
