€
%

KfW student loan: currently approx. 6–9% p.a. Private student loans: 1–5% depending on provider.

months

= 5 years

Monthly payment

per month

€184.17

€184.17

You pay €184.17 for 60 months – €11,050.20 in total, of which €1,050.20 is interest.

What you repay in total

  • Loan amount€10,000.0090%
  • Interest€1,050.2010%
Loan amount
€10,000.00
Interest
+ €1,050.20
Total repayment
€11,050.20
Interest share of total repayment
9.5%
How this was calculated
R = K · z · (1+z)ⁿ ÷ ((1+z)ⁿ − 1)
z = 4% ÷ 12, n = 60
R = €10,000.00 · z · (1+z)^60 ÷ ((1+z)^60 − 1) = €184.17
€184.17 × 60 = €11,050.20

Annuity formula: constant monthly payment R from loan amount K, monthly rate z (annual rate ÷ 12) and term n in months. Total repayment = R × n.

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