Student Loan Calculator
Estimate your monthly payments, total interest, and explore repayment strategies with our comprehensive student loan calculators. Plan your education financing with confidence.
Simple Student Loan Calculator
Please provide the values below to calculate your loan payments.
Student Loan Repayment Calculator
Use this calculator to evaluate student loan payoff options and potential interest savings with extra payments.
Repayment Options:
Student Loan Projection Calculator
Use this calculator to estimate the loan balance and repayment obligation after graduation.
Do you pay interest during school years?
Amortization Schedule
Calculate a loan above to see the amortization schedule
What is a Student Loan Calculator?
A student loan calculator helps you estimate your monthly student loan payments and understand your long-term costs when financing your education. Enter your loan balance, interest rate, and loan term to generate a monthly payment plan and a detailed amortization schedule.
Types of Student Loans
Federal Student Loans
- Direct Subsidized Loans: Government pays interest while in school
- Direct Unsubsidized Loans: Interest accrues during all periods
- Direct PLUS Loans: For graduate students and parents
- Direct Consolidation Loans: Combine multiple federal loans
Private Student Loans
- Offered by banks, credit unions, and online lenders
- May have higher interest rates than federal loans
- Usually require credit check and/or co-signer
- Fewer repayment options and protections
How Student Loan Payments are Calculated
- Principal: The original amount borrowed
- Interest: Cost charged by lender, typically calculated as a percentage of principal
- Loan Term: Length of time to repay the loan (typically 10-25 years)
- Repayment Plan: Standard, graduated, extended, or income-driven
Tips for Managing Student Loan Debt
- Make extra payments when possible to reduce principal and save on interest
- Consider refinancing if you can qualify for a lower interest rate
- Explore loan forgiveness programs if you work in public service
- Take advantage of income-driven repayment plans if struggling with payments
- Set up automatic payments to receive interest rate discounts (typically 0.25%)
Student Loan Repayment Options
| Plan | Term Length | Payment Amount | Forgiveness? |
|---|---|---|---|
| Standard | 10 years | Fixed | No |
| Graduated | 10 years | Increases every 2 years | No |
| Extended | Up to 25 years | Fixed or Graduated | No |
| Income-Based (IBR) | 20-25 years | 10-15% of discretionary income | Yes |
| Pay As You Earn (PAYE) | 20 years | 10% of discretionary income | Yes |
For more information, consult with a financial aid advisor or student loan servicer about your specific situation and options.