Use this free student loan calculator to estimate scheduled monthly payment, payoff time, total interest, and interest saved from extra monthly payments.
$30,000 at 6.5% for 10 years
Federal loan options can include income-driven repayment, deferment, forbearance, and forgiveness rules not modeled here.
Estimate a standard student loan payment from balance, rate, and term.
See how an extra payment may reduce payoff time.
Estimate interest cost before choosing a repayment strategy.
Compare simplified repayment scenarios before reviewing official options.
Payment and payoff time
Scheduled payment estimate
Interest saved estimate
Plain-language answers about when to use the estimate, what your numbers mean, what is left out, and how privacy works.
Use it for early planning and side-by-side comparisons, especially for tasks like these: Estimate a standard student loan payment from balance, rate, and term. See how an extra payment may reduce payoff time. Treat the answer as a planning estimate, not a final quote.
In plain language: The calculator uses the fixed-payment loan formula for scheduled repayment, then simulates monthly payoff again with any extra monthly payment. If the result seems too high or too low, first check whether each field expects a monthly amount, annual amount, dollar value, or percent.
This is not an official federal repayment plan result. It does not include income-driven repayment, deferment, forbearance, forgiveness, subsidies, capitalization, fees, or servicer rules. Real finance decisions can also depend on fees, timing, local rules, credit details, and provider-specific terms.
No. The calculator runs in your browser tab. Recent answers stay only on the page while you use it, and they are not sent to a server.