damn the red baron
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Apr 8, 2002
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What would my monthly loan payments be around (estimate of course) if I left school with 100 thousand dollars of loans. Who determines the repayment period? Is it usually 10 years or does it depend on the situation?

Thanks in advance for any help.


15+ Year Member
Mar 1, 2002
Western MA
hi! i work in a hospital, and part of my job is helping residents learn how to manage their debt. check out <a href="http://www.aamc.org/medloans." target="_blank">www.aamc.org/medloans.</a>

i just got the latest debt facts from them, and they say that the average payment on the standard 10 yr plan, with 8.24% interest is $1,571 a month, for $100,000 in Stafford loans.

<img border="0" alt="[Wowie]" title="" src="graemlins/wowie.gif" /> :(

sorry to be the bearer of bad news, but i hope this helps.


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Jan 17, 2001
Portland, OR
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  1. Resident [Any Field]
It would all depend on what the interest rates are on the loan. There are several repayment plans available and you can set you repayment to be anywhere from 10 to 30 years. There is even a plan in which the remaining amount of your loan is forgiven if it takes more than 25 years to pay back. Check the <a href="http://www.ed.gov/prog_info/SFA/StudentGuide/2001-2/direct.html" target="_blank">Student Guide</a> to Stafford loans.

So you have some idea, I have listed some interest rates, re-payment periods in years, and the repayment amount for $100,000 loans.

6%, 10 years, $1110 per month
7%, 10 years, $1161 per month
8%, 10 years, $1213 per month

6%, 15 years, $844 per month
7%, 15 years, $899 per month
8%, 15 years, $956 per month

6%, 20 years, $716 per month
7%, 20 years, $775 per month
8%, 20 years, $836 per month

Hope this gives you some idea of what to expect.
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Also, when you are using some sites online calculator, you need to know if you are talking about 100K in principle, or 100K including capitalized interest.

<a href="http://www.nslds.ed.gov" target="_blank">www.nslds.ed.gov</a>

is the gov't site to address all your questions, and while it may not be the most user friendly, I am always able to find what I am looking for with a little persistance.


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How much do you make as a resident usually? Will you be able to make enough money to make the monthly payments and still be able to have money for life's necessities?

Whisker Barrel Cortex

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Residents generally make only 38-45K and most residents I know are not making significant payments on their loans. Stafford loans can be deferred for 3 years during residency. If you do a longer residency or fellowship, you can apply for something called forbearance, which basically means that loan payments would be greater than a certain percentage of your income (I think 20%) so you are not required to make payments. The problem with this is that interest will build up.

A few residents I know are paying off interest are making small payments during residency, but the majority I have talked to have deferred.
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