Find your monthly payment and total interest for any student loan balance, rate, and repayment term.
Monthly Payment-
Total Paid Over Term-
Total Interest Paid-
Time Saved with Extra Payment-
🕑 Your Recent Calculations
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What Is a Student Loan Calculator?
A student loan calculator shows you the fixed monthly payment needed to pay off your loan balance over a chosen repayment term, along with the total interest you'll pay over the life of the loan. It uses the same standard amortization math that federal and private student loan servicers use for fixed-rate repayment plans. You can also see how adding a little extra to each monthly payment shortens your payoff time and cuts total interest.
A fixed monthly payment steadily pays down principal and interest until graduation from debt.
Formula
Monthly Payment = P × [r(1+r)n] ÷ [(1+r)n − 1]
where P = loan balance, r = monthly interest rate (annual rate ÷ 12), n = number of monthly payments (years × 12)
How to Use This Calculator
Enter your total student loan balance (combine multiple loans if you want one blended payment).
Enter the annual interest rate on the loan.
Enter the repayment term in years — the standard federal term is 10 years, but income-driven and extended plans can run 20–25 years.
Optionally, enter an extra amount you plan to pay each month on top of the required payment.
Click "Calculate Payment" to see your monthly payment, total amount paid, total interest, and (if you added extra payments) how much time and interest you'd save.
Worked Example
Example: A $35,000 loan at 5.5% annual interest over a 10-year term: monthly rate = 5.5%/12 = 0.4583%, n = 120 payments. Monthly Payment ≈ $379.69. Total Paid ≈ $45,563. Total Interest ≈ $10,563 over the life of the loan.