Student Loan Payment Calculator for Maine College of Art

Payments, Loan Cost and Prepayment Saving

Standard Loan Repayment Costs

Below are the details of a sample student loan if you borrowed $230,480.00 to attend Maine College of Art. With a standard repayment plan you will pay a fixed amount each month until your loan is paid in full.

A full amortization table and payoff chart is available below.

Maine College of Art Student Loan Payments
Example Payments
Monthly Loan Payment$2,501.31
Amount Borrowed$230,480.00
Interest Rate5.5%
Term years
Number of Monthly Payments120
Total Interest Cost$69,677.64
Sum of All Payments over 10 years

Loan Affordability

To keep student loan repayment affordable, it is recommended not to borrow more than you can pay back using 10% of your monthly income. Under these parameters you would need a post graduation salary of $300,157.64 to afford the $2,501.31 monthly payment in the loan modeled above.

Re-calculate the Loan

Estimate Loan Payments

Modify the loan assumptions to fit your financial situation and likely tuition price. Then calculate your payoff and loan payments for a Maine College of Art student loan.

Prepayment Option

Loan Balances Over Time

Student Loan Amortization Table

Month Payment Principal Interest Balance
1 $2,501.31 $1,444.95 $1,056.37 $229,035.05
2 $2,501.31 $1,451.57 $1,049.74 $227,583.48
3 $2,501.31 $1,458.22 $1,043.09 $226,125.26
4 $2,501.31 $1,464.91 $1,036.41 $224,660.35
5 $2,501.31 $1,471.62 $1,029.69 $223,188.73
6 $2,501.31 $1,478.37 $1,022.95 $221,710.37
7 $2,501.31 $1,485.14 $1,016.17 $220,225.23
8 $2,501.31 $1,491.95 $1,009.37 $218,733.28
9 $2,501.31 $1,498.79 $1,002.53 $217,234.49
10 $2,501.31 $1,505.66 $995.66 $215,728.84
11 $2,501.31 $1,512.56 $988.76 $214,216.28
12 $2,501.31 $1,519.49 $981.82 $212,696.79
13 $2,501.31 $1,526.45 $974.86 $211,170.34
14 $2,501.31 $1,533.45 $967.86 $209,636.89
15 $2,501.31 $1,540.48 $960.84 $208,096.41
16 $2,501.31 $1,547.54 $953.78 $206,548.87
17 $2,501.31 $1,554.63 $946.68 $204,994.24
18 $2,501.31 $1,561.76 $939.56 $203,432.49
19 $2,501.31 $1,568.91 $932.40 $201,863.57
20 $2,501.31 $1,576.11 $925.21 $200,287.46
21 $2,501.31 $1,583.33 $917.98 $198,704.14
22 $2,501.31 $1,590.59 $910.73 $197,113.55
23 $2,501.31 $1,597.88 $903.44 $195,515.67
24 $2,501.31 $1,605.20 $896.11 $193,910.47
25 $2,501.31 $1,612.56 $888.76 $192,297.91
26 $2,501.31 $1,619.95 $881.37 $190,677.97
27 $2,501.31 $1,627.37 $873.94 $189,050.59
28 $2,501.31 $1,634.83 $866.48 $187,415.76
29 $2,501.31 $1,642.32 $858.99 $185,773.44
30 $2,501.31 $1,649.85 $851.46 $184,123.59
31 $2,501.31 $1,657.41 $843.90 $182,466.17
32 $2,501.31 $1,665.01 $836.30 $180,801.16
33 $2,501.31 $1,672.64 $828.67 $179,128.52
34 $2,501.31 $1,680.31 $821.01 $177,448.21
35 $2,501.31 $1,688.01 $813.30 $175,760.20
36 $2,501.31 $1,695.75 $805.57 $174,064.46
37 $2,501.31 $1,703.52 $797.80 $172,360.94
38 $2,501.31 $1,711.33 $789.99 $170,649.61
39 $2,501.31 $1,719.17 $782.14 $168,930.44
40 $2,501.31 $1,727.05 $774.26 $167,203.39
41 $2,501.31 $1,734.96 $766.35 $165,468.43
42 $2,501.31 $1,742.92 $758.40 $163,725.51
43 $2,501.31 $1,750.91 $750.41 $161,974.61
44 $2,501.31 $1,758.93 $742.38 $160,215.68
45 $2,501.31 $1,766.99 $734.32 $158,448.68
46 $2,501.31 $1,775.09 $726.22 $156,673.59
47 $2,501.31 $1,783.23 $718.09 $154,890.37
48 $2,501.31 $1,791.40 $709.91 $153,098.97
49 $2,501.31 $1,799.61 $701.70 $151,299.36
50 $2,501.31 $1,807.86 $693.46 $149,491.50
51 $2,501.31 $1,816.14 $685.17 $147,675.36
52 $2,501.31 $1,824.47 $676.85 $145,850.89
53 $2,501.31 $1,832.83 $668.48 $144,018.06
54 $2,501.31 $1,841.23 $660.08 $142,176.83
55 $2,501.31 $1,849.67 $651.64 $140,327.16
56 $2,501.31 $1,858.15 $643.17 $138,469.01
57 $2,501.31 $1,866.66 $634.65 $136,602.34
58 $2,501.31 $1,875.22 $626.09 $134,727.12
59 $2,501.31 $1,883.81 $617.50 $132,843.31
60 $2,501.31 $1,892.45 $608.87 $130,950.86
61 $2,501.31 $1,901.12 $600.19 $129,049.74
62 $2,501.31 $1,909.84 $591.48 $127,139.90
63 $2,501.31 $1,918.59 $582.72 $125,221.32
64 $2,501.31 $1,927.38 $573.93 $123,293.93
65 $2,501.31 $1,936.22 $565.10 $121,357.72
66 $2,501.31 $1,945.09 $556.22 $119,412.63
67 $2,501.31 $1,954.01 $547.31 $117,458.62
68 $2,501.31 $1,962.96 $538.35 $115,495.66
69 $2,501.31 $1,971.96 $529.36 $113,523.70
70 $2,501.31 $1,981.00 $520.32 $111,542.70
71 $2,501.31 $1,990.08 $511.24 $109,552.63
72 $2,501.31 $1,999.20 $502.12 $107,553.43
73 $2,501.31 $2,008.36 $492.95 $105,545.07
74 $2,501.31 $2,017.57 $483.75 $103,527.50
75 $2,501.31 $2,026.81 $474.50 $101,500.69
76 $2,501.31 $2,036.10 $465.21 $99,464.59
77 $2,501.31 $2,045.43 $455.88 $97,419.15
78 $2,501.31 $2,054.81 $446.50 $95,364.34
79 $2,501.31 $2,064.23 $437.09 $93,300.12
80 $2,501.31 $2,073.69 $427.63 $91,226.43
81 $2,501.31 $2,083.19 $418.12 $89,143.24
82 $2,501.31 $2,092.74 $408.57 $87,050.50
83 $2,501.31 $2,102.33 $398.98 $84,948.16
84 $2,501.31 $2,111.97 $389.35 $82,836.20
85 $2,501.31 $2,121.65 $379.67 $80,714.55
86 $2,501.31 $2,131.37 $369.94 $78,583.18
87 $2,501.31 $2,141.14 $360.17 $76,442.04
88 $2,501.31 $2,150.95 $350.36 $74,291.08
89 $2,501.31 $2,160.81 $340.50 $72,130.27
90 $2,501.31 $2,170.72 $330.60 $69,959.55
91 $2,501.31 $2,180.67 $320.65 $67,778.89
92 $2,501.31 $2,190.66 $310.65 $65,588.23
93 $2,501.31 $2,200.70 $300.61 $63,387.53
94 $2,501.31 $2,210.79 $290.53 $61,176.74
95 $2,501.31 $2,220.92 $280.39 $58,955.82
96 $2,501.31 $2,231.10 $270.21 $56,724.72
97 $2,501.31 $2,241.33 $259.99 $54,483.39
98 $2,501.31 $2,251.60 $249.72 $52,231.79
99 $2,501.31 $2,261.92 $239.40 $49,969.88
100 $2,501.31 $2,272.29 $229.03 $47,697.59
101 $2,501.31 $2,282.70 $218.61 $45,414.89
102 $2,501.31 $2,293.16 $208.15 $43,121.73
103 $2,501.31 $2,303.67 $197.64 $40,818.06
104 $2,501.31 $2,314.23 $187.08 $38,503.83
105 $2,501.31 $2,324.84 $176.48 $36,178.99
106 $2,501.31 $2,335.49 $165.82 $33,843.50
107 $2,501.31 $2,346.20 $155.12 $31,497.30
108 $2,501.31 $2,356.95 $144.36 $29,140.35
109 $2,501.31 $2,367.75 $133.56 $26,772.59
110 $2,501.31 $2,378.61 $122.71 $24,393.99
111 $2,501.31 $2,389.51 $111.81 $22,004.48
112 $2,501.31 $2,400.46 $100.85 $19,604.02
113 $2,501.31 $2,411.46 $89.85 $17,192.56
114 $2,501.31 $2,422.51 $78.80 $14,770.04
115 $2,501.31 $2,433.62 $67.70 $12,336.43
116 $2,501.31 $2,444.77 $56.54 $9,891.65
117 $2,501.31 $2,455.98 $45.34 $7,435.68
118 $2,501.31 $2,467.23 $34.08 $4,968.44
119 $2,501.31 $2,478.54 $22.77 $2,489.90
120 $2,501.31 $2,489.90 $11.41 $0.00