403(b) Loan Calculator
Calculate the repayment schedule and true cost of borrowing from your 403(b), including monthly payments, total interest, and the opportunity cost of lost investment growth.
Loan Details
Account Details
Age & Retirement
Loan Impact Score
This loan will have a noticeable impact on your long-term retirement balance.
Monthly Payment
$287
Total True Cost
$7,165
Monthly Payment
$287
60 payments over 5 years
Total Interest Paid
$2,191
Paid back into your own account
Opportunity Cost
$4,899
Lost investment growth through retirement
Total True Cost
$7,165
Interest + fees + lost growth + missed match
403(b) Balance: With Loan vs Without
How the loan affects your retirement account over time
Payment Breakdown
How your total payments are split between principal, interest, and fees
Total Paid
$17,266
Principal
87%$15,000
Interest
13%$2,191
Fees
0%$75
Loan Amortization Schedule
Monthly breakdown of principal and interest payments
| Month | Payment | Principal | Interest | Remaining |
|---|---|---|---|---|
| 1 | $287 | $218 | $69 | $14,782 |
| 2 | $287 | $219 | $68 | $14,563 |
| 3 | $287 | $220 | $67 | $14,344 |
| 4 | $287 | $221 | $66 | $14,123 |
| 5 | $287 | $222 | $65 | $13,901 |
| 6 | $287 | $223 | $64 | $13,678 |
| 7 | $287 | $224 | $63 | $13,455 |
| 8 | $287 | $225 | $62 | $13,230 |
| 9 | $287 | $226 | $61 | $13,004 |
| 10 | $287 | $227 | $60 | $12,777 |
| 11 | $287 | $228 | $59 | $12,549 |
| 12 | $287 | $229 | $58 | $12,320 |
| 13 | $287 | $230 | $56 | $12,090 |
| 14 | $287 | $231 | $55 | $11,859 |
| 15 | $287 | $232 | $54 | $11,627 |
| 16 | $287 | $233 | $53 | $11,393 |
| 17 | $287 | $234 | $52 | $11,159 |
| 18 | $287 | $235 | $51 | $10,924 |
| 19 | $287 | $236 | $50 | $10,687 |
| 20 | $287 | $238 | $49 | $10,450 |
| 21 | $287 | $239 | $48 | $10,211 |
| 22 | $287 | $240 | $47 | $9,971 |
| 23 | $287 | $241 | $46 | $9,731 |
| 24 | $287 | $242 | $45 | $9,489 |
| 25 | $287 | $243 | $43 | $9,246 |
| 26 | $287 | $244 | $42 | $9,001 |
| 27 | $287 | $245 | $41 | $8,756 |
| 28 | $287 | $246 | $40 | $8,510 |
| 29 | $287 | $248 | $39 | $8,262 |
| 30 | $287 | $249 | $38 | $8,014 |
| 31 | $287 | $250 | $37 | $7,764 |
| 32 | $287 | $251 | $36 | $7,513 |
| 33 | $287 | $252 | $34 | $7,261 |
| 34 | $287 | $253 | $33 | $7,008 |
| 35 | $287 | $254 | $32 | $6,753 |
| 36 | $287 | $256 | $31 | $6,498 |
| 37 | $287 | $257 | $30 | $6,241 |
| 38 | $287 | $258 | $29 | $5,983 |
| 39 | $287 | $259 | $27 | $5,724 |
| 40 | $287 | $260 | $26 | $5,464 |
| 41 | $287 | $261 | $25 | $5,202 |
| 42 | $287 | $263 | $24 | $4,939 |
| 43 | $287 | $264 | $23 | $4,676 |
| 44 | $287 | $265 | $21 | $4,410 |
| 45 | $287 | $266 | $20 | $4,144 |
| 46 | $287 | $268 | $19 | $3,877 |
| 47 | $287 | $269 | $18 | $3,608 |
| 48 | $287 | $270 | $17 | $3,338 |
| 49 | $287 | $271 | $15 | $3,067 |
| 50 | $287 | $272 | $14 | $2,794 |
| 51 | $287 | $274 | $13 | $2,521 |
| 52 | $287 | $275 | $12 | $2,246 |
| 53 | $287 | $276 | $10 | $1,969 |
| 54 | $287 | $277 | $9 | $1,692 |
| 55 | $287 | $279 | $8 | $1,413 |
| 56 | $287 | $280 | $6 | $1,133 |
| 57 | $287 | $281 | $5 | $852 |
| 58 | $287 | $283 | $4 | $569 |
| 59 | $287 | $284 | $3 | $285 |
| 60 | $287 | $285 | $1 | $0 |
Personalized Insights
Actionable recommendations based on your numbers
Significant Opportunity Cost
While you pay interest back to yourself, the $4,899 in lost market growth is a real cost. The total true cost is $7,165.
Interest Goes Back to You
Unlike other loans, the $2,191 in interest is paid back into your own 403(b) account. However, this interest is typically lower than what the market would have earned.
Repayment as Share of Income
Your annual loan payments of $3,438 appear manageable relative to your estimated income. Ensure you can maintain regular contributions alongside repayment.
Job Change Risk
If you leave your employer, most 403(b) loans must be repaid in full by the tax filing deadline for that year. Failure to repay triggers income taxes and potentially a 10% early withdrawal penalty if you're under 59½.
Consider Alternatives
Before borrowing from your 403(b), compare personal loans, HELOCs, or 0% APR credit cards. These options don't reduce your retirement savings or risk tax penalties if you leave your job.