Student Loan Calculator
Calculate your monthly student loan payment, total interest, and compare different repayment plans.
Monthly Payment
$0
Standard 10-year plan
Loan Summary
Payoff Timeline
Extra Payment Impact
💡 Federal Student Loan Rates (2025–26)
📋 Income-Driven Repayment (IDR)
Quick Answer
For a $35,000 student loan at 6.5% interest on the Standard 10-year repayment plan, the estimated monthly payment is approximately $397. Total interest paid over the loan term is approximately $12,640. Adjust the calculator above with your own loan balance and rate for a personalized estimate.
Repayment Plan Comparison
| Plan | Monthly Payment | Total Interest | Total Paid |
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Amortization Schedule
| Year | Principal | Interest | Balance |
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What is a Student Loan Calculator?
Also searched as "student loan payment calculator" or simply "student loan calculator," this tool covers both federal and private student loans, helping you compare repayment plans before or after graduation.
A student loan calculator estimates your monthly payment for federal or private student loans based on your balance, interest rate, repayment plan, and grace period. It helps you understand how much you'll owe after graduation, compare repayment plans, and see how extra payments can reduce your total interest and payoff time.
How to Use the Student Loan Calculator Step by Step
- Enter your total loan balance — combine all federal or private loans if calculating together.
- Select your loan type — use presets for undergraduate, graduate, or PLUS loans, or enter a custom rate.
- Choose your repayment plan — Standard 10-year, or Extended plans up to 25 years.
- Set your grace period — typically 6 months after graduation for federal loans.
- Add an extra monthly payment — optional, to see how it accelerates payoff.
- Review your results — see your monthly payment, total interest, payoff date, and repayment plan comparison.
Federal Student Loan Rates 2025-2026
Federal student loan interest rates for the 2025-2026 academic year are fixed for the life of the loan and set annually by Congress based on the 10-year Treasury note yield.
| Loan Type | Interest Rate | Borrower Type |
|---|---|---|
| Direct Subsidized/Unsubsidized | 6.53% | Undergraduate |
| Direct Unsubsidized | 8.08% | Graduate/Professional |
| Direct PLUS Loans | 9.08% | Graduate/Parent |
| Private Student Loans | 4% – 16% | Credit-based |
Federal rates are fixed for the 2025-2026 academic year. Private loan rates vary by lender and credit profile.
Federal Repayment Plans Explained
- Standard Plan (10 years): Fixed payments, lowest total interest, default plan for most borrowers.
- Extended Plan (up to 25 years): Lower monthly payments but significantly more total interest.
- SAVE Plan: Income-driven, payments based on 5-10% of discretionary income, with forgiveness after 20-25 years.
- PAYE Plan: Payments capped at 10% of discretionary income, available to newer borrowers.
- IBR Plan: Income-Based Repayment at 10-15% of discretionary income depending on when you borrowed.
Student Loan Calculator FAQs
What is the grace period for federal student loans?
Most federal student loans have a 6-month grace period after graduation, leaving school, or dropping below half-time enrollment before repayment begins. Interest accrues on unsubsidized loans during this period and is added to your principal through capitalization.
Should I choose Standard or Extended repayment?
Standard repayment saves significantly more in total interest and is best if you can afford the higher monthly payment. Extended repayment lowers your monthly burden but can nearly double your total interest paid over the life of the loan.
Should I refinance my federal student loans?
Refinancing into a private loan can lower your rate but permanently removes federal protections like income-driven repayment and forgiveness programs. It makes sense only if you have stable income, won't need those protections, and qualify for a rate at least 1% lower.
Can I deduct student loan interest on my taxes?
Yes, you can deduct up to $2,500 in student loan interest paid annually on your federal taxes, subject to income limits that phase out the deduction for higher earners. This applies whether you itemize or take the standard deduction.
Tips to Manage Student Loan Debt
- Make payments during your grace period: Even small payments reduce capitalized interest before repayment begins.
- Use the avalanche method: Pay extra toward your highest-interest loan first if you have multiple loans.
- Check employer benefits: Many employers now offer student loan repayment assistance programs.
- Set up autopay: Many federal and private lenders offer a 0.25% rate discount for automatic payments.
- Avoid unnecessary forbearance: Interest continues accruing during forbearance, increasing your total balance.
Federal vs Private Student Loans
| Federal Loans | Private Loans | |
|---|---|---|
| Interest Rate | Fixed, set by Congress | Fixed or variable, credit-based |
| Forgiveness Programs | Yes (PSLF, IDR) | No |
| Income-Driven Repayment | Available | Not available |
Disclaimer: This calculator provides estimates only and does not constitute financial advice. Visit studentaid.gov for official federal loan information and consult a financial advisor for personalized guidance.