Estimate monthly student loan payments, total interest, payoff time, repayment cost, extra payment savings, and total loan balance. This student loan calculator can compare standard repayment, extended repayment, interest-only payments, and accelerated payoff options.
Monthly payment:
Enter loan balance, interest rate, and repayment term to estimate the standard monthly payment.
Payoff time:
Enter a known monthly payment to estimate how long it may take to pay off the loan.
Extra payment savings:
Enter an extra monthly payment to estimate interest saved and time saved.
Interest cost:
The calculator estimates total interest, total repayment cost, deferment interest, and origination fee cost.
A student loan calculator helps estimate the long-term cost of borrowing for school.
It can help with college planning, repayment planning, refinancing comparisons, extra payment planning, monthly budget estimates, and understanding how interest affects total student loan cost.
Your result shows estimated monthly payment, total interest, total repayment cost, payoff time, extra payment savings, deferment interest, origination fee, combined loan balance, weighted average interest rate, and loan-by-loan payment estimates.
Student loan payments are commonly estimated using the loan balance, monthly interest rate, and number of monthly payments in the repayment term.
Yes. Extra payments usually reduce the principal faster, which can reduce total interest and shorten the payoff time.
It can. Some loans accrue interest during deferment or grace periods, which can increase the total amount owed.
No. It is an estimate. Actual student loan payments can vary by loan type, servicer, repayment plan, fees, interest capitalization, deferment rules, and payment timing.