Student Loan Calculator

This calculator models standard fixed-rate repayment for federal subsidized/unsubsidized loans, PLUS loans, and private student loans. Enter the loan balance, interest rate, and repayment term to see monthly payments and total interest.

No. Income-driven repayment plans (IDR) such as SAVE, IBR, PAYE, or PSLF have different logic based on income, family size, and loan forgiveness — they are beyond the scope of a standard calculator. Use the Federal Student Aid Loan Simulator (studentaid.gov) for IDR estimates.

Extra payments go directly toward reducing the principal balance, which reduces the interest that accrues going forward. This shortens your repayment period and reduces total interest paid. Even $50–$100 extra per month can save thousands in interest over a 10-year term.

Yes, for standard fixed-rate loans. Both federal and private loans use the same monthly payment formula when on a fixed repayment plan. Variable-rate private loans may change over time; model them using your current rate as a starting point.

Federal student loans have origination fees (typically 1%–4%) that reduce the disbursed amount. If you want to include this, reduce your loan amount input by the fee percentage. Capitalized interest (unpaid interest added to principal during deferment) should be added to your starting balance manually.