Calculate your student loan payments, total interest, and repayment timeline. Plan your student loan repayment strategy with our free calculator.
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Paying just $50 extra per month can save you thousands in interest and shave years off your repayment term.
If you have good credit, refinancing to a lower interest rate can save you significant money. Compare offers from multiple lenders.
Making bi-weekly payments (26 half-payments per year) results in 13 full payments annually, paying off your loan faster.
If you work in public service, consider PSLF for forgiveness after 120 qualifying payments. This can save you tens of thousands.
1. Pay more than the minimum whenever possible
2. Consider income-driven repayment if you're struggling
3. Explore loan forgiveness programs for your career
4. Refinance for better rates (be careful with federal protections)
5. Use bonuses and tax refunds for principal payments
6. Set up automatic payments for potential rate discounts (usually 0.25%)
Monthly payment = P × [r(1 + r)^n] ÷ [(1 + r)^n − 1]
P = principal, r = periodic interest rate, n = number of payments.The calculator applies the entered principal or balance, periodic interest rate, repayment term and any supported fees or extra payments. Payment and interest figures depend on compounding frequency, payment timing and which taxes, insurance or charges are included.
Student Loan Calculator estimates the payment, balance, payoff or borrowing cost produced by the loan assumptions entered. Calculate your student loan payments, total interest, and repayment timeline. Plan your student loan repayment strategy with our free calculator. Use it to compare terms and payment scenarios, not as a lender quote.
It is an estimate generated from the values entered on this page and the calculation method shown in the formula and methodology sections.
The calculator validates the entered values, applies the protected formula shown on the page and then rounds only the displayed result where appropriate.
Use current source values, confirm units and time periods, include every requested cost or measurement, and avoid rounding inputs before the final calculation.
Different calculators may use different assumptions, time periods, rounding rules, reference standards or included costs. Compare the inputs and limitations before comparing answers.
No. It provides an estimate from the entered assumptions. Actual rates, fees, taxes, eligibility rules, policy terms and market performance can change the final outcome.
Recalculate whenever a material input changes, such as a rate, price, balance, measurement, time period, fee, contribution or project dimension.
Enter the expected amount, rate and term, calculate a base case, then increase the rate or shorten the term. Compare the monthly payment and total interest to understand the trade-off between cash flow and borrowing cost.