Student loan calculator — monthly payment & total interest
Enter your student loan balance, interest rate, and repayment term to get a fixed monthly payment, total interest, and payoff date. Defaults: $35,000 at 6.5% over 10 years. Add extra payments to see savings, or open the loan payoff calculator for a target debt-free date.
How to use this student loan calculator
- Enter loan amount (total balance you plan to repay on this schedule).
- Set annual interest rate (%) and term (years or months).
- Optional: loan start date, extra monthly/yearly/one-time principal payments.
- Review payment, total interest, comparison vs no extras, and download CSV or copy link.
Example: $35,000 at 6.5% for 10 years
Fixed amortizing payment is about $397/month. Total interest over 10 years is roughly $12,600—exact cents depend on rounding. Paying an extra $100/month in the calculator above can cut years off the term and reduce total interest; try your own numbers in the form.
Standard repayment vs income-driven repayment (IDR)
U.S. federal loans offer standard fixed repayment, graduated, extended, and income-driven plans. This student loan calculator uses level fixed payments like a typical 10-year style plan. IDR depends on income, family size, and program rules—it is not modeled here. Use this page when you know a fixed rate and term (many private loans and some federal refi/consolidation scenarios).
Example: $50,000 at 7% for 12 years
Fixed amortizing payment is about $515/month. Total interest over 144 months is roughly $24,000—higher than a 10-year term on the same balance because the loan runs longer. Compare 10 vs 12 years in the form to balance payment size vs total cost.
Student loan payment formula (fixed amortizing)
M = P × r × (1 + r)n ÷ ((1 + r)n − 1)
P = balance, r = annual rate ÷ 12, n = months. Private loans and consolidated refi often use this math; federal IDR plans do not.
Extra payments and early payoff
Extra amounts apply to principal after each required payment, matching common servicer handling. For a one-time lump sum from your current balance, use the loan payoff calculator. For a focused extra-payment view, see the extra loan payment calculator.
Frequently asked questions
How do I calculate student loan payments?
Balance + rate + term → fixed monthly payment. Change any input to compare scenarios side by side in the schedule.
Does this include IDR or PSLF?
No. Public Service Loan Forgiveness and income-driven plans need servicer tools or government calculators.
Is this for federal or private student loans?
Both work when you have a fixed rate and amortizing term. Variable-rate private loans need your current rate updated over time.
Can I share or export my scenario?
Copy link, CSV, and print are in the schedule toolbar above this article.