Student Loan Calculator
Calculate your monthly payments, total interest, and repayment schedule
Loan Details
Payment Summary
Enter your loan details and click "Calculate Loan Repayment" to see your payment plan.
Results will appear here including a detailed breakdown and visualization.
Frequently Asked Questions
How does the student loan calculator work?
The calculator uses the loan amount, interest rate, and loan term to calculate your monthly payment based on a standard amortization formula. It then generates a payment schedule and visualizes how your payments are applied to principal and interest over time.
What is the difference between subsidized and unsubsidized loans?
Subsidized loans are available to undergraduate students with financial need. The government pays the interest while you're in school. Unsubsidized loans are available to both undergraduate and graduate students regardless of financial need, but interest accrues while you're in school.
Can I pay off my student loans early?
Yes, most student loans allow early repayment without penalties. Making extra payments can significantly reduce the total interest you pay over the life of the loan. Use the calculator to see how extra payments can impact your repayment timeline.
What repayment plans are available?
Federal student loans offer several repayment plans including Standard Repayment (fixed payments over 10 years), Graduated Repayment (payments start low and increase), and Income-Driven Repayment (payments based on your income). This calculator uses the standard repayment plan.