Student Loan Calculator

This calculator assumes you’ll be paying monthly for 10 years once repayment begins, which is the standard term for federal loans and many private loans.

Click “Add another loan” to include additional loans in each year or select the next year. Select “I’m done” once you are finished adding all of your loans, then “Calculate” to get your results.

Interest will accrue daily on unsubsidized federal and private loans while you’re in college. The total amount accrued will capitalize and be added to your total loan amount when repayment begins. During repayment, interest will continue to accrue and will be included as part of your monthly bill amount.

• Unsubsidized federal loans and deferred private loans will accrue interest while you’re in school and during the six-month grace period. The amount that accrues will be added to the total amount you owe when repayment begins.

This is the minimum amount you must pay each month during repayment to stay current.

This is the sum of all the loan amounts you entered.

This is the total interest that accrued daily on each of the loan amounts you entered during school and the six-month grace period.

This total doesn’t reflect the full amount you will pay over time. During repayment, interest will continue to accrue daily and you’ll pay for it as part of your monthly bill.

If you have unsubsidized or private student loans, you can lower your total to repay by making monthly interest payments while you’re going to school. Or, you may opt to make a lump sum payment of the total interest that accrues before repayment begins. Either method will prevent the interest that accrues from being capitalized. The result: a lower monthly bill amount.

You can submit more than your monthly minimum to pay off your loan faster. The quicker you finish paying your loans, the more you’ll save in interest. Learn how to pay off your student loans fast.

Private lenders may allow you to lower monthly payment temporarily. To permanently lower monthly payments you’ll need to refinance student loans. By doing so, you replace your current loan or loans with a new, private loan at a lower interest rate. To qualify you’ll need a credit score in the high 600s and steady income, or a co-signer who does.