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Grace Period Calculator

If you have a federal Stafford loan, see how much you can save if you make monthly payments during your 6-month grace period. Any payments made during your grace period will lessen the total amount that you pay over the life of your loan.

Directions: Enter your information. Round up to the nearest dollar and don't use commas or symbols.

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Amount of the Loan: $

Interest Rate: %

Month 1 Payment: $

Month 2 Payment: $

Month 3 Payment: $

Month 4 Payment: $

Month 5 Payment: $

Month 6 Payment: $

Total Paid During Grace Period: $

Calculate

Savings

Pay Period Reduction: Months

Interest Saved: $

Reset

Helpful Tips

Making even one payment during this time can save you money in the long run.
Calculations are based on an average 10-year or 120-month repayment schedule.
If the total paid is more than the amount of the loan, your savings will default to the total repayment schedule (120 months) and total interest.
This calculator provides only estimates based on the information you enter.

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Helpful Hint

Don't know your loan details, such as your interest rate?
Check StudentAid.gov to see a complete snapshot of your federal student aid. You will need your federal ID to access this information.