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Student Loan Calculator

Aylık ödeme

$340.64

Toplam ödeme

$40,877.27

Toplam faiz

$10,877.27

Kapanış tarihi

Jun 2036

Kapanış zaman çizelgesi

120 mo

A student loan calculator that estimates monthly payments on a standard 10-year amortized repayment plan. Federal Stafford and Grad PLUS loans use this structure by default; refinanced private loans do too. The numbers here assume a fixed APR, which is the norm for federal loans.

A $30,000 balance at 6.5% for 10 years costs $340/month and $10,897 in interest — roughly a third of the principal. Income-driven repayment plans can lower that monthly but extend the timeline and change the math considerably. Federal loans also have different rules than private; check with your servicer before committing.

Nasıl Kullanılır

  1. Enter your total loan balance (sum of all loans, or model one at a time).
  2. Enter the APR — check your Master Promissory Note or servicer dashboard.
  3. 10 years is standard; use 15 or 20 for extended/income-driven plans.
  4. Read monthly payment; total interest is the real cost number.

Ne Zaman Kullanılır

  • Federal or private student loans with a fixed APR and standard amortization.
  • Refinance scenarios.

Ne Zaman Kullanılmaz

  • Income-driven repayment with forgiveness — the math is different; use the federal Loan Simulator.
  • Public Service Loan Forgiveness tracks — also different math.

Yaygın Kullanım Senaryoları

  • Estimating post-graduation payment on a current balance.
  • Comparing standard repayment vs an extended plan.
  • Deciding whether to refinance to a lower private APR (only if you don’t need federal protections).

Örnek

Girdi
Balance: $30,000
APR: 6.5%
Term: 10 years
Çıktı
Monthly: $340.82
Total paid: $40,897
Total interest: $10,897

Stretching to 20 years lowers monthly to $223 but raises total interest to $23,711 — more than doubles it.

Sık Sorulan Sorular

Should I refinance my federal loans?

Only if you don’t need federal protections (income-driven repayment, deferment, PSLF). Refinancing to private loses those permanently.

Are student loan interest payments tax-deductible?

Up to $2,500 of student loan interest per year is deductible from taxable income, subject to income limits. Check current IRS rules for your filing year.

What's the difference between subsidized and unsubsidized federal student loans?

Subsidized (Direct Subsidized Loans): government pays interest while in school at least half-time, during deferment, and 6-month grace period after graduation. Available only to undergrads with demonstrated financial need. Unsubsidized (Direct Unsubsidized Loans): interest accrues from disbursement, including during school. Capitalizes (added to principal) at end of grace period if unpaid. Both have the same interest rate (5.50% for 2024-25 undergrad rates). Subsidized are dramatically better when available, but capped at $3,500-5,500/year depending on year in school.

Should I pay interest while in school on unsubsidized loans?

Yes, if you can. On a $20K unsubsidized loan at 5.5% over 4 years of school + 6-month grace, accrued interest would be ~$5,000. If you make interest-only payments while in school (~$92/month), the balance stays at $20K rather than capitalizing to $25K. Total interest savings over 10-year repayment: ~$1,800. Even paying $25-50/month during school helps. If parents are willing, they can pay the interest as a 'gift' (not technically a loan payment) without triggering imputed interest tax issues.

What happens with student loan forgiveness programs?

Public Service Loan Forgiveness (PSLF): 10 years of 120 qualifying payments while working full-time for government / non-profit, balance forgiven tax-free. Income-Driven Repayment forgiveness: 20-25 years of payments on income-driven plan, remaining balance forgiven (taxable as income in most states). Teacher Loan Forgiveness: $5K-17.5K after 5 years teaching at low-income school. Total and Permanent Disability discharge: full forgiveness with proper documentation. Borrower defense: discharge if school engaged in misconduct (Corinthian Colleges, ITT Tech). Each program has detailed rules; the StudentAid.gov simulator is the authoritative source.

Should I take 10-year standard or income-driven repayment?

10-year standard: lowest total interest, highest monthly payment. Income-driven (SAVE, PAYE, IBR): payment based on % of discretionary income (5-15% for SAVE), forgiveness after 20-25 years on remaining balance. Use 10-year if your salary supports the payment comfortably (rule of thumb: payment under 8-10% of gross monthly income). Use income-driven if: pursuing PSLF, payment on standard plan would be 15%+ of gross income, or you need cash-flow flexibility for early career. SAVE is the most generous IDR plan but currently in legal limbo (2025); check current status before enrolling.