Average Student Loan Debt Information
| Average Student Loan |
| Original Term: |
120 Months |
| Remaining Term: |
118 months1 |
| Principal Balance: |
$30,0002 |
| Interest Rate: |
6.00% |
Average Student Loan Debt Information With Standard Repayment
| With Standard Repayment |
| Amount Borrowed: |
$30,000 |
| Total Interest Paid: |
$9,967.20 |
| Total Amount Repaid: |
$39,967.20 |
Average Student Loan Debt Information With Standard Repayment Plus Employer Contribution
| With Standard Repayment Plus Employer Contribution |
| Employer Contribution: |
$8,4003 |
| Total Interest Saved: |
$2,941.19 |
1 Assumes the borrower made the first two payments
2 $30,000 is the Iowa average debt upon graduation for the class of 2015, according to the Project on Student Debt.
3 Assumes a $100/month contribution in addition to the regular payment applied to principal each month
