Student loan calculator
See the payment—and how to escape the debt sooner
Calculate monthly payment and total interest, compare an extra monthly payment, and check whether the result fits your expected income.
Important loan assumptions
Payments are fixed monthly payments on a standard amortizing loan. The calculation assumes the rate stays fixed, payments begin now, there are no fees, and every payment arrives on time. Income ratio uses gross monthly income—not take-home pay.
Federal and private student loans can have different rates, protections, fees, repayment plans and forgiveness rules. Confirm your actual terms with your lender or servicer. For federal repayment-plan comparisons, use the official Federal Student Aid Repayment Calculator ↗.
Student loan FAQ
Understand what the payment does—and does not show
How is a student loan payment calculated?
For a fixed-rate standard loan, the monthly payment amortizes principal and interest over the selected term so the balance reaches zero after the final scheduled payment.
How do extra payments save interest?
When an extra payment is applied to principal, the balance falls faster. Future interest is then calculated on a smaller balance, which can reduce both total interest and payoff time.
Does this calculator include income-driven repayment or forgiveness?
No. It models a fixed-rate standard amortizing loan. Federal income-driven plans, consolidation, deferment, forgiveness, and variable-rate private loans require plan-specific calculations.