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Student Loan Calculator
Enter your loan balance, interest rate and term for a standard amortized repayment estimate.
How standard student loan repayment works
Standard federal student loan repayment spreads your balance across equal monthly payments over a fixed term — 10 years by default — the same fixed-rate amortization math used for a mortgage or car loan. Each payment is split between interest (calculated on your remaining balance) and principal, with the interest share largest at the start and smallest near the end. This calculator uses that standard formula to show your monthly payment and the total interest you'd pay if you never changed your plan.
What this doesn't model
Standard 10-year repayment is only one of several federal repayment options — income-driven repayment plans (which base your payment on income rather than balance, and can run 20–25 years with eventual forgiveness of any remaining balance) can produce very different numbers, as can loan forgiveness programs, deferment, or a mix of subsidized and unsubsidized loans with different interest rules. This tool also doesn't include origination fees some loans charge upfront. Treat this as a baseline for comparing options, and verify your real numbers — balance, rate and available plans — with your loan servicer.
Frequently asked questions
Is 10 years the only option for federal student loans?
No — 10 years is the standard default, but federal borrowers can also choose extended repayment (up to 25 years), graduated repayment, or one of several income-driven plans. Each produces a different monthly payment and total interest; this calculator only models the standard fixed-term case.
Why does a longer term lower my payment but raise total interest?
Spreading the same balance over more months lowers each individual payment, but you're paying interest on the outstanding balance for longer — so total interest paid over the life of the loan goes up even though each monthly bill goes down.
Does this work for private student loans too?
The amortization math is the same for any fixed-rate, fixed-term loan, so yes — just enter your private loan's actual balance, rate and term. Private loans often have different rate structures (sometimes variable) that this simple calculator doesn't model.
What's the difference between this and income-driven repayment?
Standard repayment (modeled here) is based purely on your balance, rate and a fixed term. Income-driven plans instead set your payment as a percentage of your discretionary income, which can be much lower month-to-month but extends the loan much longer and calculates interest very differently — this calculator does not model those plans.