Student Loan Calculator
Last updated: July 2026
Estimate student loan payments, interest cost, and the effect of making an extra monthly payment.
Required monthly payment
$0.00
- Payment with extra: $0.00
- Payoff time with extra: —
- Interest without extra: $0.00
- Interest saved: $0.00
On this page
Quick summary: Estimate student loan payments, interest cost, and the effect of making an extra monthly payment. Enter the requested values, calculate, review the result, and compare more than one realistic scenario before making a decision.
Read the complete guide
What this calculator does
The Student Loan Calculator estimates repayment amounts and interest cost for education debt. It can help compare repayment terms and understand how interest affects the total amount repaid.
How to use the calculator step by step
Enter the loan balance, interest rate, and repayment term shown by the calculator. For multiple loans with different rates, calculate each separately unless the tool specifically supports consolidation.
How the calculation works
A standard fixed repayment plan uses amortization: interest is charged on the outstanding balance and each payment reduces both interest due and principal.
Worked example and scenario testing
A 30,000 loan at 5.5% over 10 years produces a monthly payment in the low 300s. Paying extra toward principal can shorten the term and reduce total interest if the loan permits it.
How to interpret your result
The result is a standard repayment estimate. Actual student-loan programs may offer income-based payments, deferment, subsidies, forgiveness, or other special rules.
Accuracy, assumptions, and limitations
Government and private student loans can follow different capitalization, grace-period, repayment, and forgiveness rules that a simple calculator cannot fully model.
Common mistakes to avoid
Do not assume the standard payment shown is the only available repayment plan. Also check whether accrued interest has already been added to the balance.
Privacy and browser-based calculations
Only balance, rate, and term values should be entered. Do not provide student IDs, loan account numbers, or government identifiers.