A $37,000 student loan at 5.5% interest on a 10-year standard repayment plan costs $401 per month. Over 10 years, you will pay $11,137 in total interest, making the total repayment cost $48,137.

Key Numbers

• •Loan amount: $37,000
• •Interest rate: 5.5%
• •Monthly payment: $401
• •Total interest: $11,137
• •Total repayment cost: $48,137
• •Repayment term: 10 years (120 payments)