Finance Calculator

Information View your message(s) from myCalSTRS:
  • Interest rate is not available for the estimated financing begin date, 7/13/2024. It's been changed to 6/30/2022

You can finance the purchase of service credit through monthly cash payments of up to 120 payments or through payroll deduction if your employer offers this option. If you are interested, check with your employer to see if they offer payroll deductions and the tax basis for the deductions. Once you sign up for tax-deferred payments, you cannot change the payment method.

The amount to finance the purchase of service credit or redeposit depends on how much service credit you want to purchase, your contract basis (10-, 11- and 12-month contract base) and the interest charged for the finance.

The interest charged for the finance is set at a rate established annually by the Teachers' Retirement Board. Your estimate using this calculator uses that rate. That rate will be locked in for the life of your finance period. Additionally, if you are already financing a purchase or redeposit, you cannot refinance your purchase or redeposit.

How to Start a Purchase

If you would like to initiate a service credit purchase, select the correct CalSTRS form under Service Credit. After you send the completed form to CalSTRS and CalSTRS verifies your eligibility for the purchase, you will receive a billing statement listing the amount due and the cost to finance. If you agree to the terms of the billing, sign the billing statement and send it to your employer within 35 days of the date on the original billing invoice. If you want to change the initial payment terms of your deductions, contact CalSTRS. Please do not send money to CalSTRS.


Please be aware that the calculation provided by this Web site is for your estimation purposes only.

The estimate of the cost for you to finance the purchase of service credit or redeposit is calculated based on the information you provide. The more accurate the information you provide, the more accurate your estimate will be. This estimate is not binding upon you or CalSTRS.

To obtain the actual costs to purchase service credit or redeposit and/or to finance the purchase, you should contact CalSTRS for a billing statement.

Please do not send any payments to CalSTRS based on the estimate. Any payments received by CalSTRS without an official billing will be returned to the sender.


Contract base time

Contract base time