Student Loan Calculator
Estimate your monthly student loan payment and total interest across common repayment terms.
Monthly Payment
$325.58
- Total interest
- $9,069
- Total payment
- $39,069
Assumptions
- Fixed interest rate for the full repayment term
- Standard (not income-driven) repayment
How it's calculated
Monthly payment = P * r / (1 - (1 + r)^-n), where P is the loan amount, r is the monthly interest rate, and n is the term in months.
Worked example
A $30,000 loan at 5.5% over a 10-year standard term has a monthly payment of a few hundred dollars, shown live above.
Frequently asked questions
Does this cover income-driven repayment plans?
No — this models standard fixed repayment only. Income-driven plans are a possible future calculator.