Formula
Payment = B × i ÷ [1 − (1+i)−n]. Federal undergraduate Direct Loans first disbursed for 2025–26 carry 6.39%. Up to $2,500 of student loan interest is deductible each year (phased out at higher incomes).
FAQ
What is the payment on $35,000 at 6.39% over 10 years?
About $395 a month and $12,450 of interest.
Sources (checked Nov 6, 2026): Federal Student Aid (studentaid.gov) interest rates 2025–26; IRS Publication 970.