finance calculator

Student Loan Calculator

Estimate student loan payments and total interest.

Bookmark this student loan calculator

Return to this page when rates, balances, repayment terms, or refinancing options change.

Saved runs

Inputs

Loan balance$

Interest rate%

Repayment term (years)

Results

Monthly payment

$380

Loan balance$35,000

Total interest$10,581

Total repayment$45,581

Repayment term10 years

Formula

Student loan payment

M = P [ r(1 + r)^n ] / [ (1 + r)^n - 1 ]

Student loan repayment uses the same amortizing loan formula as many fixed-payment loans.

Step by step

How the calculation works

1Enter the current student loan balance.
2Set the annual interest rate and repayment term.
3Convert the annual rate into a monthly rate.
4Calculate monthly payment, total repayment, and interest cost.

Example

Example student loan repayment

A $35,000 student loan at 5.5% for 10 years has an estimated monthly payment near $380.

Related guides

Learn more about this calculation

Guide

Student Loan Repayment: Comparing Plans and Forgiveness Options

Compare federal student loan repayment plans including standard, graduated, income-driven, and forgiveness programs like PSLF and IDR.

Guide

Loan Payment Formula Explained: How Monthly Payments and Interest Work

Learn how loan payments are calculated, what principal, interest rate, and term mean, and how to compare monthly payment scenarios before borrowing.

Period

Payment

Principal

Interest

Balance

Month 1

$380

$219

$160

$34,781

Month 2

$380

$220

$159

$34,560

Month 3

$380

$221

$158

$34,339

Month 4

$380

$222

$157

$34,116

Month 5

$380

$223

$156

$33,893

Month 6

$380

$225

$155

$33,668

Month 7

$380

$226

$154

$33,443

Month 8

$380

$227

$153

$33,216

Month 9

$380

$228

$152

$32,989

Month 10

$380

$229

$151

$32,760

Month 11

$380

$230

$150

$32,530

Month 12

$380

$231

$149

$32,299

Month 13

$380

$232

$148

$32,068

Month 14

$380

$233

$147

$31,835

Month 15

$380

$234

$146

$31,601

Month 16

$380

$235

$145

$31,366

Month 17

$380

$236

$144

$31,130

Month 18

$380

$237

$143

$30,893

Month 19

$380

$238

$142

$30,654

Month 20

$380

$239

$140

$30,415

Month 21

$380

$240

$139

$30,175

Month 22

$380

$242

$138

$29,933

Month 23

$380

$243

$137

$29,690

Month 24

$380

$244

$136

$29,447

Month 25

$380

$245

$135

$29,202

Month 26

$380

$246

$134

$28,956

Month 27

$380

$247

$133

$28,709

Month 28

$380

$248

$132

$28,460

Month 29

$380

$249

$130

$28,211

Month 30

$380

$251

$129

$27,960

Month 31

$380

$252

$128

$27,709

Month 32

$380

$253

$127

$27,456

Month 33

$380

$254

$126

$27,202

Month 34

$380

$255

$125

$26,947

Month 35

$380

$256

$124

$26,690

Month 36

$380

$258

$122

$26,433

Month 37

$380

$259

$121

$26,174

Month 38

$380

$260

$120

$25,914

Month 39

$380

$261

$119

$25,653

Month 40

$380

$262

$118

$25,391

Month 41

$380

$263

$116

$25,128

Month 42

$380

$265

$115

$24,863

Month 43

$380

$266

$114

$24,597

Month 44

$380

$267

$113

$24,330

Month 45

$380

$268

$112

$24,062

Month 46

$380

$270

$110

$23,792

Month 47

$380

$271

$109

$23,521

Month 48

$380

$272

$108

$23,249

Month 49

$380

$273

$107

$22,976

Month 50

$380

$275

$105

$22,701

Month 51

$380

$276

$104

$22,426

Month 52

$380

$277

$103

$22,148

Month 53

$380

$278

$102

$21,870

Month 54

$380

$280

$100

$21,591

Month 55

$380

$281

$99

$21,310

Month 56

$380

$282

$98

$21,027

Month 57

$380

$283

$96

$20,744

Month 58

$380

$285

$95

$20,459

Month 59

$380

$286

$94

$20,173

Month 60

$380

$287

$92

$19,886

Month 61

$380

$289

$91

$19,597

Month 62

$380

$290

$90

$19,307

Month 63

$380

$291

$88

$19,016

Month 64

$380

$293

$87

$18,723

Month 65

$380

$294

$86

$18,429

Month 66

$380

$295

$84

$18,134

Month 67

$380

$297

$83

$17,837

Month 68

$380

$298

$82

$17,539

Month 69

$380

$299

$80

$17,239

Month 70

$380

$301

$79

$16,939

Month 71

$380

$302

$78

$16,636

Month 72

$380

$304

$76

$16,333

Month 73

$380

$305

$75

$16,028

Month 74

$380

$306

$73

$15,721

Month 75

$380

$308

$72

$15,414

Month 76

$380

$309

$71

$15,104

Month 77

$380

$311

$69

$14,794

Month 78

$380

$312

$68

$14,482

Month 79

$380

$313

$66

$14,168

Month 80

$380

$315

$65

$13,853

Month 81

$380

$316

$63

$13,537

Month 82

$380

$318

$62

$13,219

Month 83

$380

$319

$61

$12,900

Month 84

$380

$321

$59

$12,579

Month 85

$380

$322

$58

$12,257

Month 86

$380

$324

$56

$11,933

Month 87

$380

$325

$55

$11,608

Month 88

$380

$327

$53

$11,282

Month 89

$380

$328

$52

$10,953

Month 90

$380

$330

$50

$10,624

Month 91

$380

$331

$49

$10,293

Month 92

$380

$333

$47

$9,960

Month 93

$380

$334

$46

$9,626

Month 94

$380

$336

$44

$9,290

Month 95

$380

$337

$43

$8,953

Month 96

$380

$339

$41

$8,614

Month 97

$380

$340

$39

$8,274

Month 98

$380

$342

$38

$7,932

Month 99

$380

$343

$36

$7,588

Month 100

$380

$345

$35

$7,243

Month 101

$380

$347

$33

$6,897

Month 102

$380

$348

$32

$6,548

Month 103

$380

$350

$30

$6,199

Month 104

$380

$351

$28

$5,847

Month 105

$380

$353

$27

$5,494

Month 106

$380

$355

$25

$5,139

Month 107

$380

$356

$24

$4,783

Month 108

$380

$358

$22

$4,425

Month 109

$380

$360

$20

$4,066

Month 110

$380

$361

$19

$3,704

Month 111

$380

$363

$17

$3,342

Month 112

$380

$365

$15

$2,977

Month 113

$380

$366

$14

$2,611

Month 114

$380

$368

$12

$2,243

Month 115

$380

$370

$10

$1,873

Month 116

$380

$371

$1,502

Month 117

$380

$373

$1,129

Month 118

$380

$375

$754

Month 119

$380

$376

$378

Month 120

$380

$378

How to understand and use this calculator

What this student loan calculator does

The student loan calculator estimates the monthly payment for a fixed-rate education loan and shows how much interest is paid over the repayment term. It is useful for private loans, refinance scenarios, and simplified fixed-payment planning.

The calculator also builds an amortization schedule so the repayment is not just a single monthly number. You can see how each payment is split between interest and principal and how the remaining balance falls over time.

How to use it

Enter the current loan balance, annual interest rate, and repayment term in years. Review the monthly payment first, then compare total interest and total repayment to understand the full cost.

Use the schedule and balance chart when comparing shorter versus longer terms. A longer term can lower the monthly payment, but it usually increases total interest. A shorter term can cost more each month but reduce the lifetime cost of the loan.

Formula explained

The calculator uses the standard amortizing loan formula. The annual interest rate is converted into a monthly rate, the repayment term becomes the number of monthly payments, and the formula solves for a fixed monthly payment.

Each payment first covers interest on the remaining balance. The rest reduces principal. Early payments generally include more interest because the balance is higher; later payments shift toward principal.

Important repayment context

Real student loan programs may include income-driven plans, deferment, forbearance, subsidies, forgiveness rules, variable rates, or refinancing fees. This calculator is best for fixed-rate repayment planning and comparison.

If you have federal loans, compare any refinance offer carefully because refinancing into a private loan can remove federal protections. Use the calculator as a planning model, not as a replacement for official loan servicer information.

Related concepts

Repayment term

The number of years used to repay the student loan.

Refinancing

Replacing an existing loan with a new loan that may have different terms.

Interest accrual

The way unpaid balance generates interest over time.

FAQs

Can this calculator model federal income-driven repayment?

No. It models fixed monthly repayment. Income-driven plans depend on income, family size, program rules, and annual recertification.

Why does a shorter repayment term save interest?

A shorter term pays down the balance faster, which gives interest less time to accrue.

Can I use it for refinancing?

Yes, for comparing fixed-rate refinance scenarios. Include any fees separately when comparing real offers.

Period

Payment

Principal

Interest

Balance

Month 1

$380

$219

$160

$34,781

Month 2

$380

$220

$159

$34,560

Month 3

$380

$221

$158

$34,339

Month 4

$380

$222

$157

$34,116

Month 5

$380

$223

$156

$33,893

Month 6

$380

$225

$155

$33,668

Month 7

$380

$226

$154

$33,443

Month 8

$380

$227

$153

$33,216

Month 9

$380

$228

$152

$32,989

Month 10

$380

$229

$151

$32,760

Month 11

$380

$230

$150

$32,530

Month 12

$380

$231

$149

$32,299

Month 13

$380

$232

$148

$32,068

Month 14

$380

$233

$147

$31,835

Month 15

$380

$234

$146

$31,601

Month 16

$380

$235

$145

$31,366

Month 17

$380

$236

$144

$31,130

Month 18

$380

$237

$143

$30,893

Month 19

$380

$238

$142

$30,654

Month 20

$380

$239

$140

$30,415

Month 21

$380

$240

$139

$30,175

Month 22

$380

$242

$138

$29,933

Month 23

$380

$243

$137

$29,690

Month 24

$380

$244

$136

$29,447

Month 25

$380

$245

$135

$29,202

Month 26

$380

$246

$134

$28,956

Month 27

$380

$247

$133

$28,709

Month 28

$380

$248

$132

$28,460

Month 29

$380

$249

$130

$28,211

Month 30

$380

$251

$129

$27,960

Month 31

$380

$252

$128

$27,709

Month 32

$380

$253

$127

$27,456

Month 33

$380

$254

$126

$27,202

Month 34

$380

$255

$125

$26,947

Month 35

$380

$256

$124

$26,690

Month 36

$380

$258

$122

$26,433

Month 37

$380

$259

$121

$26,174

Month 38

$380

$260

$120

$25,914

Month 39

$380

$261

$119

$25,653

Month 40

$380

$262

$118

$25,391

Month 41

$380

$263

$116

$25,128

Month 42

$380

$265

$115

$24,863

Month 43

$380

$266

$114

$24,597

Month 44

$380

$267

$113

$24,330

Month 45

$380

$268

$112

$24,062

Month 46

$380

$270

$110

$23,792

Month 47

$380

$271

$109

$23,521

Month 48

$380

$272

$108

$23,249

Month 49

$380

$273

$107

$22,976

Month 50

$380

$275

$105

$22,701

Month 51

$380

$276

$104

$22,426

Month 52

$380

$277

$103

$22,148

Month 53

$380

$278

$102

$21,870

Month 54

$380

$280

$100

$21,591

Month 55

$380

$281

$99

$21,310

Month 56

$380

$282

$98

$21,027

Month 57

$380

$283

$96

$20,744

Month 58

$380

$285

$95

$20,459

Month 59

$380

$286

$94

$20,173

Month 60

$380

$287

$92

$19,886

Month 61

$380

$289

$91

$19,597

Month 62

$380

$290

$90

$19,307

Month 63

$380

$291

$88

$19,016

Month 64

$380

$293

$87

$18,723

Month 65

$380

$294

$86

$18,429

Month 66

$380

$295

$84

$18,134

Month 67

$380

$297

$83

$17,837

Month 68

$380

$298

$82

$17,539

Month 69

$380

$299

$80

$17,239

Month 70

$380

$301

$79

$16,939

Month 71

$380

$302

$78

$16,636

Month 72

$380

$304

$76

$16,333

Month 73

$380

$305

$75

$16,028

Month 74

$380

$306

$73

$15,721

Month 75

$380

$308

$72

$15,414

Month 76

$380

$309

$71

$15,104

Month 77

$380

$311

$69

$14,794

Month 78

$380

$312

$68

$14,482

Month 79

$380

$313

$66

$14,168

Month 80

$380

$315

$65

$13,853

Month 81

$380

$316

$63

$13,537

Month 82

$380

$318

$62

$13,219

Month 83

$380

$319

$61

$12,900

Month 84

$380

$321

$59

$12,579

Month 85

$380

$322

$58

$12,257

Month 86

$380

$324

$56

$11,933

Month 87

$380

$325

$55

$11,608

Month 88

$380

$327

$53

$11,282

Month 89

$380

$328

$52

$10,953

Month 90

$380

$330

$50

$10,624

Month 91

$380

$331

$49

$10,293

Month 92

$380

$333

$47

$9,960

Month 93

$380

$334

$46

$9,626

Month 94

$380

$336

$44

$9,290

Month 95

$380

$337

$43

$8,953

Month 96

$380

$339

$41

$8,614

Month 97

$380

$340

$39

$8,274

Month 98

$380

$342

$38

$7,932

Month 99

$380

$343

$36

$7,588

Month 100

$380

$345

$35

$7,243

Month 101

$380

$347

$33

$6,897

Month 102

$380

$348

$32

$6,548

Month 103

$380

$350

$30

$6,199

Month 104

$380

$351

$28

$5,847

Month 105

$380

$353

$27

$5,494

Month 106

$380

$355

$25

$5,139

Month 107

$380

$356

$24

$4,783

Month 108

$380

$358

$22

$4,425

Month 109

$380

$360

$20

$4,066

Month 110

$380

$361

$19

$3,704

Month 111

$380

$363

$17

$3,342

Month 112

$380

$365

$15

$2,977

Month 113

$380

$366

$14

$2,611

Month 114

$380

$368

$12

$2,243

Month 115

$380

$370

$10

$1,873

Month 116

$380

$371

$1,502

Month 117

$380

$373

$1,129

Month 118

$380

$375

$754

Month 119

$380

$376

$378

Month 120

$380

$378

How to understand and use this calculator

What this student loan calculator does

How to use it

Enter the current loan balance, annual interest rate, and repayment term in years. Review the monthly payment first, then compare total interest and total repayment to understand the full cost.

Formula explained

Important repayment context

Related concepts

Repayment term

The number of years used to repay the student loan.

Refinancing

Replacing an existing loan with a new loan that may have different terms.

Interest accrual

The way unpaid balance generates interest over time.

FAQs

Can this calculator model federal income-driven repayment?

No. It models fixed monthly repayment. Income-driven plans depend on income, family size, program rules, and annual recertification.

Why does a shorter repayment term save interest?

A shorter term pays down the balance faster, which gives interest less time to accrue.

Can I use it for refinancing?

Yes, for comparing fixed-rate refinance scenarios. Include any fees separately when comparing real offers.

Student Loan Calculator

Bookmark this student loan calculator

Inputs

Results

Student loan payment

How the calculation works

Example student loan repayment

Learn more about this calculation

Student Loan Repayment: Comparing Plans and Forgiveness Options

Loan Payment Formula Explained: How Monthly Payments and Interest Work

Student Loan Calculator

Bookmark this student loan calculator

Inputs

Results

Key output metrics

Principal vs interest

Student loan balance timeline

Principal, interest, and balance timeline

How to understand and use this calculator

What this student loan calculator does

How to use it

Formula explained

Important repayment context

Related concepts

FAQs

Student loan payment

How the calculation works

Example student loan repayment

Learn more about this calculation

Student Loan Repayment: Comparing Plans and Forgiveness Options

Loan Payment Formula Explained: How Monthly Payments and Interest Work

Key output metrics

Principal vs interest

Student loan balance timeline

Principal, interest, and balance timeline

How to understand and use this calculator

What this student loan calculator does

How to use it

Formula explained

Important repayment context

Related concepts

FAQs