Student Loan Calculator
Quick answer
Enter balance, rate, term in years. If grace/deferment ended, use current balance and rate.
For a related estimate, see Apr Calculator.
Explore further: Auto Loan Calculator · Car Loan Calculator
What moves the payment
Fixed-rate amortizing loans use principal, APR, and term. APR calculators include fees in the effective rate. Credit cards revolve—interest compounds on average daily balance. Debt payoff order changes total interest when you redirect surplus dollars.
Explore further: Credit Card Calculator · Credit Card Interest Calculator
Student loans often have unique forgiveness and income-driven paths. This intent covers classic amortization for private loans or standard plans when you want a baseline payment and interest cost.
How to use this calculator
- Subsidized vs unsubsidized: Accrual during school differs—use post-graduation balance for payoff modeling.
- Refi vs federal protections: Refi may lower rate but forfeits some federal options—decide outside this tool.
- Extra payments: Apply explicitly to principal on loans that allow it.
Real-world examples
- Example: $35k @ 5.5% / 10 years → ~$380/mo P&I (illustrative).
- Sensitivity check: Nudge the rate by about +0.5% and the principal by about −5%. If the payment, break-even, or target amount moves enough to change your decision, you are still on a steep part of the curve where small inputs matter.
Explore further: Credit Card Payoff Calculator
What this means
Classic amortization is a baseline—IDR and forgiveness programs need program-specific modeling.
FAQ
Is this a loan commitment?
No. Outputs are educational estimates. Final payments, APR, and fees come from your lender’s disclosures.
How accurate is this calculator?
It applies standard math to the inputs you enter. Real lenders, payroll rules, and rounding can differ—use results for planning and comparison, not as binding quotes.
Why might my result differ from another website?
Different assumptions (APR vs note rate, day-count, tax year, rounding mode, or unit definitions) shift outputs slightly. Align inputs with the same definitions when you compare.