Student Loan Calculator
Estimate student loan payments and payoff time across repayment plans.
Monthly Payment
Total Interest
Total Paid
Payoff Time
With Extra Payments
New Payoff Time
Interest Saved
Months Saved
About the Student Loan Calculator
This calculator estimates your monthly student loan payment using the standard amortization formula. Enter your total loan balance, annual interest rate, and repayment term to see your monthly payment, the total interest you will pay, and how long it will take to clear the debt.
The Standard 10-Year Plan
The standard repayment plan spreads your balance over 10 years (120 fixed monthly payments). It is the default for most federal student loans. Each payment is the same amount, and the share going toward principal grows over time as the outstanding balance shrinks. A shorter term raises your monthly payment but lowers total interest; a longer term does the opposite.
How Extra Payments Reduce Interest
Adding even a small extra amount to each monthly payment goes directly toward your principal. Because interest is charged on the remaining balance, a smaller balance means less interest accrues every month. This compounds over the life of the loan, so consistent extra payments can save hundreds or thousands in interest and shave months or years off your payoff date.
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Disclaimer: This calculator provides estimates for educational purposes only. Results do not account for variable rates, fees, capitalized interest, deferment, or income-driven repayment plans. Actual loan terms may vary. Consult your loan servicer or a qualified financial advisor before making repayment decisions.