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Student Loan Calculator

Estimate your student loan payment, total interest and payoff date. See how a shorter plan or extra payments change the cost. Free calculator.

Loan term
yrmo
Monthly payment
$405.53
Total interest
$4,331.67
Total of all payments
$24,331.67
Principal 82%Interest 18%
YearPrincipalInterestBalance
1$3,388.80$1,477.53$16,611.20
2$3,670.07$1,196.26$12,941.13
3$3,974.69$891.65$8,966.44
4$4,304.58$561.75$4,661.86
5$4,661.86$204.47$0.00

Plan your student loan repayment

Most federal and private student loans are repaid on a fixed schedule; the standard US federal plan is 10 years. $30,000 at 6.5% over 10 years costs $340.64 a month and $10,877 in interest. Income-driven plans lower the payment by stretching the term, which usually means more interest overall. Use the calculator to compare terms, and the schedule to see how much principal you've paid off at any point.

How to use it

  1. 1

    Enter your balance

    The total you owe, or one loan at a time.

  2. 2

    Add the rate and term

    Your interest rate and the repayment length.

  3. 3

    Compare plans

    Try different terms to see the payment and total interest.

Frequently asked questions

How long is the standard repayment plan?

10 years (120 payments) for US federal Direct Loans.

Does interest build up while I'm in school?

On unsubsidized and private loans, yes. Add that interest to your balance before you calculate.

Should I pay off student loans early?

Paying extra on the highest-rate loan saves the most interest. Check there's no prepayment penalty (federal loans have none).

Does this handle income-driven plans?

No. It shows a fixed payment schedule. Income-driven payments depend on your income and family size.

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