Student Loan Calculator
Estimate a standard fixed monthly payment, total interest, and payoff timeline for one student loan. For income-based plans, extra payments, consolidation, PSLF, or default, use the focused calculators linked below.
Estimate one fixed-rate student loan payment, repayment total, and amortization timeline.
Choose the Right Student Loan Calculator
This page answers the standard payment question for one fixed-rate loan. Use a focused tool when your question changes:
Pay faster or add extra payments: use Student Loan Payoff Calculator.
Estimate an income-based payment: use IBR Payment Calculator or RAP Payment Calculator.
Compare federal plans: use IBR vs. RAP Calculator or RAP vs. Tiered Standard Calculator.
See daily accrued interest: use Daily Interest Calculator.
Estimate a federal consolidation rate: use Federal Consolidation Rate Calculator.
Work through PSLF: use PSLF Remaining Payments Calculator, PSLF Buyback Calculator, or PSLF Weighted-Average Count Calculator.
Handle a loan in default: use Student Loan Rehabilitation Calculator.
You can also browse the full student loan calculator directory.
What This Payment Estimate Assumes
The calculator treats the entered balance as one loan, converts the annual rate to a monthly rate, and estimates level monthly payments over the term. It rounds account amounts to cents and, only when nearest-cent rounding would leave a balance, raises the regular payment by one cent. The final payment may be lower, and the schedule stops when the modeled balance reaches zero.
The result is a planning estimate, not a payoff quote. It does not add future fees, capitalization, missed payments, deferment, forbearance, changing rates, or a different payment formula.
Federal and Private Student Loans
The same basic amortization math can provide a starting estimate for a fixed-rate federal or private loan. The decision layer is different. A federal loan may use a plan-specific payment or forgiveness path that this calculator does not model. A private loan follows its lender agreement and may have a variable rate or other terms that change the result.
For a federal repayment decision, compare the result with the Federal Student Aid Loan Simulator. For any loan, confirm the rate, balance, payment schedule, and payoff amount with the current servicer or lender before acting.
Student Loan Calculator FAQs
It uses the balance, fixed annual interest rate, and repayment term you enter to calculate a level monthly payment. It then runs a cent-rounded monthly amortization schedule. If nearest-cent rounding would leave a balance, the regular payment increases by one cent; the final payment may be lower.
You can use it as a basic fixed-rate estimate for either type of loan. It does not apply federal repayment-plan formulas or a private lender's variable-rate, fee, or contract terms, so compare the result with your actual disclosure or servicer statement.
This calculator uses a consistent monthly model. A real account may accrue interest daily and may reflect payment dates, capitalization, fees, rate changes, or repayment-plan rules that this estimate does not model.
No. Use the Student Loan Payoff Calculator for recurring extra-payment modeling, interest savings, and a faster payoff estimate.
No. Those decisions depend on plan-specific income, loan, employment, payment-count, or eligibility facts. Use Tate's focused IBR, RAP, plan-comparison, and PSLF calculators for those questions.