Student Loan Calculator
Compute monthly payment, total interest, and payoff time for federal or private student loans. Compare extra payments and grace-period capitalization.
Student loan details
Unsubsidized loans accrue interest during the grace period. That interest capitalizes (rolls into the principal) when repayment starts, increasing the balance you pay back.
Monthly payment
$326.15
Effective principal at repayment start: $30,750
Standard repayment
- Total paid
- $39,138
- Total interest
- $8,388
- Payoff time
- 10 yr
Same as standard
- Total paid
- $39,138
- Total interest
- $8,388
- Payoff time
- 10 yr
Frequently Asked Questions about the Student Loan Calculator
How is my monthly student loan payment calculated?
Standard amortization: payment = principal * (monthly rate * (1 + monthly rate)^months) / ((1 + monthly rate)^months - 1). The result is a fixed monthly amount that pays off the balance plus interest over your full term.
What is the difference between subsidized and unsubsidized loans?
On subsidized federal loans, the government pays the interest while you are in school, in deferment, or during the grace period, so the balance does not grow. On unsubsidized and private loans, interest accrues the entire time and capitalizes (rolls into the principal) when repayment begins.
What does the grace period do to my balance?
For unsubsidized loans, interest accrues every month of the grace period (typically six months after graduation for federal loans). At the end of grace, that accrued interest capitalizes into the principal, and all future interest is then charged on the larger balance. Subsidized loans skip this step entirely.
Should I make extra payments on my student loans?
If you can afford it, yes. Federal and most private student loans have no prepayment penalty, so every extra dollar goes straight to principal and saves you interest. Even an extra $50 to $100 per month can cut a 10-year repayment by several years and save thousands in interest.
What is the standard student loan repayment term?
Federal student loans default to a 10-year Standard Repayment Plan (120 months). Extended plans can stretch to 25 years, and income-driven plans recalculate payments based on income. Longer terms mean lower monthly payments but significantly more interest over the life of the loan.