Student Loan Calculator

See your student-loan monthly payment, total interest, and payoff date, and how paying a little extra each month gets you debt-free sooner.

Monthly payment

-

Total interest-
Total paid-
Payoff time-

Show the math

Standard repayment amortizes the balance at a fixed rate:

M = P · r(1 + r)n / ((1 + r)n − 1)

For federal Direct Loans made on or after July 1, 2026, the standard plan's term depends on your total federal balance when repayment starts: 10 years under $25,000, 15 years from $25,000, 20 years from $50,000, and 25 years from $100,000 (20 U.S.C. 1087e(d)(7)). Older federal loans use a standard plan of up to 10 years. You can enter any term. Paying extra each month reduces principal directly, so less interest accrues; the result shows how much time and interest that saves. Income-driven plans (such as the new Repayment Assistance Plan) change the payment over time and are not modeled here.

What this does

A student loan calculator shows your monthly payment, total interest, and payoff date, plus how paying a little extra each month gets you debt-free sooner. It models a standard fixed repayment as a baseline for comparison.

How to use it

  1. Enter your loan balance and interest rate.
  2. Choose a repayment term. For federal loans made on or after July 1, 2026, the standard plan runs 10 to 25 years depending on your total balance (older loans: up to 10 years); the tool shows yours.
  3. Optionally add an extra monthly payment.
  4. Read your payment, total interest, and payoff date.

How it works

The payment is amortized over your repayment term at a fixed rate. Extra payments reduce principal directly, so less interest accrues each month, shortening the term and cutting total interest.

Understanding your result

This is a baseline; income-driven and graduated plans change the payment over time. Use the standard figure to compare offers, then check official tools for plan-specific outcomes.

Example

A $30,000 balance at 5.5% on a 10-year plan is about $326 a month and roughly $9,070 in total interest. Adding $50 a month clears it 20 months early and saves about $1,630 in interest.

Sources & methodology

Last updated .

Frequently asked questions

How is my payment calculated?

It uses standard amortization over your repayment term at a fixed rate. For federal Direct Loans made on or after July 1, 2026, the standard plan runs 10 years under a $25,000 total balance, 15 years from $25,000, 20 years from $50,000 and 25 years from $100,000 (20 U.S.C. 1087e(d)(7)); older loans use a standard plan of up to 10 years. You can enter any term.

How does paying extra help?

Extra payments reduce the principal directly, so less interest accrues each month. This calculator shows how many months and how much interest you would save.

Does this cover income-driven plans?

No, income-driven and graduated plans change the payment over time. This tool models a standard fixed payment, which is a good baseline for comparison.

Is anything saved?

No. All math happens in your browser; nothing you type leaves your device.