Financial
Student Loan Calculator
Estimate student loan payments and total repayment cost.
Inputs
Adjust the assumptions to match your scenario. Results update instantly.
Results
Primary outputs and comparison insights are built from the current inputs.
Monthly payment
$434.11
Fixed monthly repayment amount.
Total interest
$12,092.61
Interest paid over the loan life.
Total repaid
$52,092.61
Total of all payments.
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How this calculator works
The Student Loan Calculator helps graduates estimate monthly payments and the total cost of repaying education debt. Enter loan amount, interest rate, and repayment term (years) to estimate monthly payment, total interest, and total repaid. The calculator updates instantly and adds a comparison table plus chart so you can test the sensitivity of the result before you use it in a decision.
Quick guide
Jump straight to the section you need, then return to the calculator.
Inputs
- Total student loan balance.
- Annual interest rate on the student loan.
- Standard repayment period.
Outputs
- Fixed monthly repayment amount.
- Interest paid over the loan life.
- Total of all payments.
Assumptions
- Fixed rate for the full term.
- Standard repayment plan with no deferment.
Tips
- Make payments during the grace period to reduce principal.
- Refinancing can lower rates for borrowers with good credit.
Formula guide
Use these formulas to audit the output or explain it to someone else.
1 formulas
Usage examples
Review a ready-made scenario, copy it, then tweak inputs to match your case.
Example
Graduate repayment plan
Inputs
- Example input Loan amount: $55,000.00
- Example input Interest rate: 6%
- Example input Repayment term (years): 10
Outputs
- Example result Monthly payment: $610.61
- Example result Total interest: $18,273.53
- Example result Total repaid: $73,273.53
Even small extra payments early in repayment cut years off the schedule.
Cost by repayment term
| Repayment term (years) | Monthly payment | Total interest |
|---|---|---|
| 5 | $764.05 | $5,842.79 |
| 10 | $434.11 | $12,092.61 |
| 15 | $326.83 | $18,830.01 |
| 20 | $275.15 | $26,037.18 |
A 10-year plan is standard, but shorter terms save considerably on interest.
Interest vs term length
Focus point
5
$5,842.79
Position
#1 of 4
Original order
Share of total
9.3%
Total: $62,802.59
A 10-year plan is standard, but shorter terms save considerably on interest.
References
- Federal student loan repayment formulas
- Standard vs income-driven plan comparison
FAQ
Common questions
What does the Student Loan Calculator do?
The Student Loan Calculator helps graduates estimate monthly payments and the total cost of repaying education debt. Enter loan amount, interest rate, and repayment term (years) to estimate monthly payment, total interest, and total repaid. The calculator updates instantly and adds a comparison table plus chart so you can test the sensitivity of the result before you use it in a decision. It is part of our financial toolkit.
What inputs do I need?
Typical inputs include Total student loan balance., Annual interest rate on the student loan., Standard repayment period..
How are the results calculated?
We follow the formulas and assumptions outlined in the "How this calculator works" section. You will see outputs like Fixed monthly repayment amount., Interest paid over the loan life., Total of all payments..
Can I share or download the results?
Use the Copy link or Print buttons to share your results. If a table or chart appears, you can download the data as CSV.
Is my data stored?
No. Calculations run in your browser and we do not store your inputs.
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