# Student Loan Calculator Estimate student loan monthly payments, total interest paid, and payoff timeline based on your balance, rate, and repayment term. --- - **Canonical URL:** https://dothecalculation.com/calculators/student-loan-calculator - **Category:** Financial calculators - **Publisher:** Do The Calculation (https://dothecalculation.com) - **Cost:** Free, no account or sign-up required - **Privacy:** Runs entirely in the browser; inputs are never sent to a server - **Methodology:** https://dothecalculation.com/methodology --- ## Student Loan Calculator — Monthly Payment and Total Interest Estimate monthly payments, lifetime interest charges, and total repayment costs for federal or private fixed-rate education loans. - Monthly payment projections - Accumulated interest tracking - Amortization schedule breakdowns ## How to Use This Calculator Enter your loan balance, annual interest rate, and repayment term in years. The calculator applies standard fixed-rate amortization to return your monthly payment, total interest paid over the life of the loan, and total repayment amount. ## Worked Example: $35,000 at 5.5% Over 10 Years Loan balance $35,000, annual interest rate 5.5%, standard 10-year repayment term. Monthly payment: ≈ $379.84. Total interest paid over 10 years: ≈ $10,581.04. Total repaid (principal + interest): ≈ $45,581.04 — meaning interest adds about 30% on top of the original $35,000 borrowed at this rate and term. Stretching the same loan to a 20-year term would lower the monthly payment but roughly double the total interest paid, which is the core trade-off behind every student loan repayment plan decision. ## The Landscape of Student Loan Repayment Student loan debt is a unique form of consumer debt. Managing it effectively requires understanding the differences between federal and private student loans, and how interest accrues during and after school. Federal loans are issued by the government and include borrower protections, deferment options, and income-driven repayment plans. Private loans are issued by commercial banks, require credit checks, and lack federal hardship protections. Most standard student loans default to a **10-year repayment term**. This tool calculates the fixed monthly payment and amortization schedule required to pay off your education debt over this or any custom term. ## How Student Loan Interest Accrues and Capitalizes Unlike other consumer loans, student loans often have periods where payments are not required (in-school deferment or grace periods). However, interest may still accrue during these times. **Subsidized Loans**: The federal government pays the interest while you are enrolled in school at least half-time and during grace periods. **Unsubsidized & Private Loans**: Interest accrues immediately upon loan payout. If this accrued interest is not paid before the repayment period begins, it **capitalizes** (is added to the principal balance), meaning you will pay interest on interest. ## Repayment Options: Standard vs. Income-Driven Federal borrowers have access to several repayment options, which fundamentally change how monthly bills are calculated: **Standard Repayment**: A fixed payment calculated to pay off the loan in exactly 10 years using standard amortization math. This minimizes total interest but can result in high monthly bills. **Income-Driven Repayment (IDR)**: Payments calculated as a percentage of your discretionary income (e.g., 5% to 10% under SAVE, IBR, or PAYE plans), with any remaining balance forgiven after 20 to 25 years. IDR plans do not follow standard amortization math, and low payments can lead to negative amortization (balance increasing over time). ## Evaluating Student Loan Refinancing Refinancing involves replacing federal or private student loans with a new private loan at a lower interest rate. While this can reduce monthly payments and lifetime interest, refinancing federal loans into a private loan means permanently forfeiting federal protections, including IDR plans, deferment options, and public service loan forgiveness (PSLF). ## Related Calculators If you are also carrying credit card or other consumer debt, plan a combined strategy with the [debt payoff calculator](/calculators/debt-payoff-calculator), or model extra payments toward this loan with the [payment calculator](/calculators/payment-calculator). ## Frequently asked questions ### Does this calculator model income-driven repayment (IDR)? No. This calculator models standard amortizing fixed-rate loans. IDR payments fluctuate annually based on gross adjusted income, family size, and program rules. ### What is interest capitalization? Interest capitalization is the process where unpaid accrued interest (such as during school deferment) is added to the principal balance, increasing the base on which future interest is calculated. ### Can I refinance federal student loans? Yes, but doing so converts them into private loans. You will lose access to federal benefits, including income-driven plans, deferment, forbearance, and loan forgiveness programs. ### What is the standard repayment term for student loans? The standard federal student loan repayment term is 10 years, which minimizes interest compared to extended 20-year or 25-year options. ### What is a subsidized student loan? A federal subsidized loan is a loan where the government pays the interest while you are in school at least half-time, during the 6-month post-grad grace period, and during authorized deferment. ### What is Public Service Loan Forgiveness (PSLF)? PSLF is a federal program that forgives the remaining balance on Direct Loans after you have made 120 qualifying monthly payments under an IDR plan while working full-time for a qualifying public employer. ### Can student loans be discharged in bankruptcy? Discharging student loans in bankruptcy is difficult. Borrowers must prove "undue hardship" under the Brunner Test, which requires showing you cannot maintain a minimal standard of living. ### What is a student loan servicer? A student loan servicer is a private company contracted by the government or bank to manage billing, customer service, and payment processing for your student loans. ### What is a grace period? A grace period is a set time (usually 6 months) after graduating, leaving school, or dropping below half-time enrollment before you are required to begin making monthly payments. ### How can I lower my student loan interest rate? You can lower rates by setting up auto-pay (often a 0.25% discount), negotiating with private lenders, or refinancing into a new private loan if market rates are low. ## Related concepts - **Capitalization** — The addition of unpaid accrued interest to the principal balance, increasing future interest costs. - **Subsidized Loan** — A federal loan program where the government covers interest during study and grace periods. - **Hardship Deferment** — An authorized temporary suspension of student loan payments due to economic hardship. ## Related guides - [Student Loan Repayment Plans: 2026 Comparison Guide](https://dothecalculation.com/blog/finance/student-loan-repayment-plans) — Compare fixed-term student loan math with current federal repayment resources, changing 2026 rules, total cost, and forgiveness verification steps. - [Loan Payment Guide: Formula, Interest, and Total Cost](https://dothecalculation.com/blog/finance/loan-payment-guide) — Learn how fixed loan payments are calculated, why term length changes total interest, and how the DTC loan calculator matches amortization math. ## Related calculators - [Auto Loan Calculator](https://dothecalculation.com/calculators/auto-loan-calculator) — Estimate monthly car payments, total financing cost, and interest owed based on vehicle price, down payment, and loan term. - [Payment Calculator](https://dothecalculation.com/calculators/payment-calculator) — Find your exact monthly loan payment instantly from the loan amount, repayment term, and interest rate you enter into the tool. - [Simple Interest Calculator](https://dothecalculation.com/calculators/simple-interest-calculator) — Calculate simple interest, the final amount owed, and total repayment amount based on your principal, rate, and loan term. - [Loan Calculator](https://dothecalculation.com/calculators/loan-calculator) — Calculate loan payments, total interest cost, and the full payoff schedule for personal, auto, or business loans in seconds. - [Credit Card Payoff Calculator](https://dothecalculation.com/calculators/credit-card-payoff-calculator) — Plan exactly how long it will take to pay off credit card debt and calculate interest savings from higher monthly payments. - [Biweekly Mortgage Payment & Payoff Accelerator](https://dothecalculation.com/calculators/biweekly-mortgage-payoff-calculator) — Compare biweekly versus monthly mortgage payment schedules to calculate how much faster you pay off your loan and total interest saved. --- _This tool is for educational purposes only. Debt repayment schedules, interest accruals, auto loan terms, student loan programs, and credit card minimum payments depend on individual credit profiles, lender underwriting policies, and contract terms. Always consult a certified financial planner, credit counselor, or lending professional before making major debt consolidation or borrowing decisions._ --- _Source: [Do The Calculation](https://dothecalculation.com/calculators/student-loan-calculator). Quote freely with attribution and a link to this page._