Student Loans
Example Loans
$8,994
Stafford Loan Interest
4.5%
Time to Pay off Student Loan
10 years
Example monthly payment
$93
Total interest paid
$2,207
Sum of Loan Payments
$11,201
To have a realistic understanding of how much it will cost to study at Delaware Technical Community College (DTCC) here is an example one can consider to estimate the payment amounts one will incur with a student loan. Take a loan of $8,994 for example. This will result in a $1,120 payment to be made each year. We can assume that the interest rate is 4.5% post any refinancing or consolidation activities with a 10 years repayment plan. Then the total payment made towards the loan is $11,201 which is $2,207 in addition to the principal amount, which constitutes the interest payment made throughout the life of the loan.
