Estimating Your Indebtedness

• Loan payment calculator
• Undergraduate student loan advisor
  
• Master's student loan advisor
  
• Doctoral student loan advisor
  
• Parent loan advisor

Loans

Rising college costs make borrowing money a fact of life for most college students. More than 65 percent of students attending four-year colleges take out loans.

At Illinois State, the average student:

• borrows $18,300 over four years;
• pays a post-graduation monthly payment of about $200 on a standard, 10-year repayment plan; and
• makes payments on-time: 98 percent of Illinois State graduates pay their federal loans back on schedule.

Once you decide to borrow money for college, you must choose the type of loan you want: a federal student or parent loan or an alternative loan. As you determine how much you'll borrow, do your future self a favor and plan for repayment now.

Before you receive funds from a federal loan, you must complete Entrance Loan Counseling and a Master Promisorry Note.