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Payment and total interest.
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Loans — Student
Student Loan Calculator
Enter your balance, rate and term to get the monthly payment and total interest.
Monthly payment
—
Standard repayment.
| Total interest | — |
|---|---|
| Total repaid | — |
| Balance | — |
| Term | — |
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Enter your figures above to see the step-by-step working.
Educational estimate — not a loan offerEverything computed client-side — nothing leaves this page
How the Student Loan Calculator Works
On the standard repayment plan, a student loan is amortized over a fixed term — usually 10 years — into equal monthly payments. Enter your balance, interest rate and term, and the calculator returns the payment, the total interest and the total you’ll repay. A $30,000 balance at 5.5% over 10 years is about $326 a month.
Federal loans use simple daily interest, so paying extra or paying early reduces the interest you owe. Refinancing to a lower rate or a shorter term lowers total interest; extending the term lowers the monthly payment but raises the total.
payment = L × i × (1+i)ⁿ ÷ ((1+i)ⁿ − 1)
Frequently Asked Questions
How is a student loan payment calculated?
On the standard plan it amortizes the balance over the term (often 10 years) at the loan’s rate, giving equal monthly payments.
Should I pay off student loans early?
Extra payments go straight to principal and cut the total interest, since interest accrues on the balance. Check that payments are applied to principal, not future installments.
What is the standard repayment term?
Ten years for most federal loans. Income-driven and extended plans can run 20–25 years, lowering the payment but increasing total interest.
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