Student Loan Repayment Calculator
Calculate student loan monthly payments, total interest, and compare how extra payments reduce your payoff timeline. Uses the standard amortization formula.
Quick-fill with the official federal rate for your disbursement year:
Rates source: Federal Student Aid / U.S. Department of Education. 2025-26 undergraduate 6.39%, graduate 7.94%, PLUS 8.94%; 2026-27 undergraduate 6.52%, graduate 8.07%, PLUS 9.07%. Your exact rate depends on loan type and first-disbursement date.
Loan Details
About these rates & sources
Federal Direct Loans carry fixed interest rates set each year by the U.S. Department of Education under the Higher Education Act. The preset buttons above use the official published rates: 2025-26 (loans first disbursed July 1, 2025–June 30, 2026) undergraduate 6.39%, graduate 7.94%, PLUS 8.94%; and 2026-27 (July 1, 2026–June 30, 2027) undergraduate 6.52%, graduate 8.07%, PLUS 9.07%. Always confirm your exact rate on your loan disclosure and at StudentAid.gov.
Disclaimer: This calculator is for general planning only and is not financial advice. It assumes standard level amortization and does not model income-driven repayment, deferment, forbearance, or forgiveness. Consult your loan servicer or a certified financial advisor for your actual plan.
Plan the rest of your student budget
Round out your college budget plan with these focused calculators on our partner sites:
- Take-home pay calculator — compare your projected student loan payment against post-graduation net income
- Income tax calculator — see how the student loan interest deduction may affect your taxes
How It Works
Enter your current loan balance, interest rate, and repayment term. The calculator shows your required monthly payment, total interest, and total repayment amount using the standard loan amortization formula.
Add an optional extra monthly payment to see how much sooner you could pay off the loan and how much interest you could save. All federal Direct Loans use fixed rates set annually by the U.S. Department of Education.
Frequently Asked Questions
How is the monthly payment calculated?▼
We use the standard amortization formula based on loan balance, annual interest rate, and repayment term. The result is the fixed monthly payment on a standard (level) plan.
Do extra payments really help?▼
Yes. Even small extra payments reduce principal faster, which lowers total interest and shortens the loan term. Extra payments are applied above the required monthly amount.
Does this include federal loan forgiveness or IDR?▼
No. This calculator assumes standard level repayment. Income-driven and forgiveness programs have separate eligibility rules—confirm current options on StudentAid.gov.
Which interest rate should I enter?▼
Enter the fixed rate for your loan type and the year your loan was first disbursed. Federal Direct Loan rates are published each year by the U.S. Department of Education (e.g., 6.39% undergraduate for 2025-26). Use a preset button above to fill the correct rate.
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