average monthly payment for student loans
Budgeting for Student Loan Repayment. The average student leaves college with about $25,000 in student loan debt. The monthly payment on a $25,000 student loan is approximately $280 (assuming 6.8% interest and a 10-year repayment plan), which can cause financial strain if youâre not prepared for it. If youâve borrowed more than $25,000, your payments will be even higher.