Student Loan Calculator
Calculate your monthly student loan payment, compare repayment plans, and see how extra payments can help you become debt-free faster.
Your Details
Enter your total loan balance, interest rate, and repayment term. Add an optional extra payment to see how much you save and how soon you can pay off your loans.
Monthly Payment
$0
Total Interest
$0
Total Paid
$0
Payoff Date
--
Extra Payment Savings
Save $0 in interest and pay off 0 years earlier!
Balance Over Time
Payment Breakdown
Compare Repayment Plans
| Plan | Monthly | Total Interest | Total Paid |
|---|
Payment Schedule
| Date | Payment | Principal | Interest | Balance |
|---|
| Year | Principal | Interest | Balance |
|---|
Complete User Guide
What is the Student Loan Calculator?
This calculator estimates your monthly student loan payment, total interest, and payoff date for federal or private student loans. Enter your total balance, interest rate, and repayment term. You can add an optional extra monthly payment to see how much interest you save and how many years earlier you pay off the loan.
Results include a balance-over-time chart, a principal vs. interest breakdown chart, a comparison of repayment plans (Standard, Extended, Graduated, Aggressive), and a full payment schedule (monthly or yearly view).
Key Metrics
Monthly Payment
The fixed amount due each month. Shorter terms mean higher payments but less total interest.
Total Interest
The total cost of borrowing over the life of the loan. Extra payments reduce this amount.
Payoff Date
When the loan is fully paid. With extra payments, this date moves earlier.
How to Use This Calculator
- Enter your total student loan balance (from your servicer or statement).
- Enter the interest rate and choose repayment term (e.g. 10 years Standard, 25 years Extended).
- Optionally enter an extra monthly payment to see savings and earlier payoff.
- Click Calculate to see monthly payment, total interest, payoff date, charts, plan comparison, and schedule.
- Switch between Monthly and Yearly views in the payment schedule.
Understanding Your Results
The Compare Repayment Plans table shows Standard (10-year), Extended (25-year), Graduated, and Aggressive (5-year) options so you can see how term length affects payment and total cost. Extra payment savings show how much interest you save and how many years earlier you pay off when you add optional extra principal.
Understanding the Charts
Balance over time: Shows how your balance decreases. If you entered an extra payment, two lines compare standard vs. with-extra-payment payoff.
Payment breakdown: Doughnut chart of principal vs. interest so you see the share of total payments that go to the loan vs. borrowing cost.
Formulas
Monthly Payment (M)
M = P × [r(1+r)^n] / [(1+r)^n − 1]
P = loan amount, r = monthly rate (APR ÷ 12), n = number of months
Important Notes
- Results are estimates. Actual terms depend on your servicer. Federal loans may have income-driven or forgiveness options not shown here.
- Refinancing federal loans removes access to income-driven plans and forgiveness. Only refinance if you do not need those benefits.