Student loan repayment calculator
Free browser-based loan and savings estimates. The interactive calculator requires JavaScript; explanations and examples are available below.
Read the guideFree browser-based loan and savings estimates. The interactive calculator requires JavaScript; explanations and examples are available below.
Read the guideEnter your starting repayment balance, annual interest rate and repayment term. Include any interest already capitalized in the starting balance when appropriate; this tool does not calculate capitalization before repayment. The estimate assumes fixed monthly payments and monthly interest rather than a servicer’s daily-accrual schedule.
This model does not use income, family size, federal eligibility or forgiveness rules. It cannot estimate income-driven repayment, deferment, forbearance, subsidies or forgiveness. If you are evaluating a federal repayment program, use current official information at Federal Student Aid and confirm terms with your servicer.
An extra monthly amount can shorten the modeled repayment period and reduce interest. Compare a realistic recurring amount with the no-extra schedule and check how your servicer allocates extra payments. This one-balance model does not decide which of several loans you should pay first, or whether accelerating repayment is preferable to another financial goal.
For a hypothetical $30,000.00 balance at 6% over 120 months, the modeled first debt payment is $333.06 and total interest is $9,967.38. No extra payment is included.
These example rates are not current market quotes. Change the calculator inputs to match your own scenario. Displayed amounts are rounded; calculations use unrounded values.
No. It models standard fixed-payment repayment only.
Many student loans accrue interest daily, while this tool uses annual interest divided by 12 and month-end payments.
Read our calculation methodology and limitations before relying on an estimate.
Educational estimates, not financial advice, loan offers or guaranteed returns.