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Student Loan Calculator

Loan balance

Interest rate (%)

Repayment term

Extra per month

Formula

Payment = P × i ÷ (1 − (1 + i)^−n), i = rate ÷ 12, n = years × 12
Comparison table recalculates the same balance at 10, 15, 20 and 25 years

FAQ

What is the standard repayment plan?

For US federal student loans the standard plan has fixed payments over 10 years. It costs the least interest of the fixed plans.

What interest rate do federal student loans have?

Rates are set each year for new loans; 2025–26 undergraduate Direct Loans are 6.39%, graduate 7.94%. Private loans vary by credit. Enter the rate on your own statement.

Does this include income-driven repayment?

No. Income-driven plans depend on income, family size and current federal rules; use studentaid.gov Loan Simulator for those. This tool covers fixed-payment plans and extra payments.

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