Calculate your monthly student loan payments, total interest costs, and explore different repayment plans. Plan your student loan strategy with our comprehensive calculator.
Time after graduation before payments begin
Additional amount to pay each month
Standard is 120 months (10 years)
Standard Repayment:
Fixed monthly payments over 10 years
Graduated Repayment:
Payments start low and increase every 2 years
Extended Repayment:
Lower monthly payments over 25 years
Income-Driven:
Payments based on income and family size
Disclaimer: This calculator provides estimates only. Actual loan terms, rates, and payments may vary based on your specific loan type, repayment plan, and lender requirements.
For accurate student loan information, please consult with your loan servicer or a qualified financial advisor.
Student loans are a significant financial commitment that can impact your finances for decades. Understanding how student loan repayment works can help you make informed decisions about your education financing.
Federal student loans offer more flexible repayment options, including income-driven repayment plans, loan forgiveness programs, and deferment/forbearance options. Private student loans typically have higher interest rates and fewer repayment options but may be necessary to cover education costs.
Federal student loans offer several repayment plans: Standard repayment (10 years, fixed payments),Graduated repayment (10 years, increasing payments), Extended repayment (25 years), and Income-driven repayment plans that cap payments at a percentage of your income.
Student loan interest accrues daily, which means the longer you take to pay off your loans, the more interest you'll pay. Making extra payments or paying more than the minimum can significantly reduce your total interest costs.
Several programs offer student loan forgiveness: Public Service Loan Forgiveness (PSLF) for government and nonprofit workers, Teacher Loan Forgiveness for educators, andIncome-driven repayment forgiveness after 20-25 years of payments.