Estimate monthly payments and total repayment amount for your education loan using this Student Loan Calculator.
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Type your current loan balance and annual interest rate. Select your loan type for pre-filled federal rates or enter a custom rate.
Pick Standard (10 yrs), Extended (25 yrs), Graduated, or set a custom term. Toggle extra payments to see how you can save on interest.
See your monthly payment, total interest, payoff date, and principal vs. interest composition chart — all updating in real time.
View the full month-by-month amortization table. Export to CSV for budgeting or print a PDF report to share with your advisor.
Results update as you type — no submit button needed. Instantly see how rate changes, extra payments, or different terms affect your costs.
Pre-loaded with 2024–2025 federal student loan interest rates for Direct Subsidized, Unsubsidized, Grad PLUS, and Parent PLUS loans.
See every single payment broken down by principal, interest, and remaining balance — month by month for the entire life of your loan.
Toggle on extra monthly payments to see exactly how many months and how much interest you save by paying more than the minimum each month.
A stacked bar chart shows the proportion of principal vs. interest in your total repayment — perfect for understanding the true cost of your loan.
All calculations run entirely in your browser. No data is ever sent to a server, stored, or tracked — your loan information stays private.
Fully responsive design works perfectly on desktop, tablet, and mobile. Calculate your loan payoff anytime, anywhere.
Download results as a CSV for spreadsheets, print a clean PDF report, or copy to clipboard to paste into emails or documents.
Account for federal loan origination fees (1.057% for Direct loans, 4.228% for PLUS loans) to see your true net disbursement and effective cost.
Student loan interest accrues daily on your outstanding principal balance. Your annual interest rate is divided by 365 (or 12 for monthly) to calculate how much interest builds up each period before your payment is applied.
Each monthly payment is first applied to any accrued interest, and the remainder reduces your principal. Early in repayment, most of your payment goes toward interest — this shifts over time as your balance decreases.
Even a small extra payment each month — like $50 or $100 — goes directly toward principal once interest is covered, significantly reducing your total interest paid and payoff timeline.
If your credit score has improved since graduation, refinancing to a lower interest rate can cut your monthly payment and total interest — though you'll lose federal loan benefits like IDR plans.
Federal IDR plans (SAVE, PAYE, IBR) cap monthly payments at 5–10% of discretionary income. After 20–25 years, remaining balances may be forgiven. Ideal if income is low relative to debt.
Many employers now offer student loan repayment assistance as a benefit — up to $5,250/year tax-free under current law. Check if your employer offers this before making extra payments yourself.
With multiple loans, the avalanche method (pay highest rate first) saves the most interest. The snowball method (pay smallest balance first) provides motivational wins. Use our calculator to compare both.
Work for a qualifying government or nonprofit employer, make 120 qualifying payments on an IDR plan, and the remaining balance on Direct Loans may be forgiven — tax-free under current law.
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Free, instant, and accurate no account required. Run your first calculation in under 10 seconds.
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