Use this calculator to estimate your monthly payments on a single federal student loan or private student loan, calculate the total payment on multiple student loans at different interest rates, or calculate the total interest you’ll pay.
Student loan repayment calculator
How to use this calculator
You may have a mix of federal and private loans. If you don’t know how much you owe, search for your federal loans in the National Student Loan Data System or contact your private student loan lender.
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.
• Subsidized federal loans accrue interest while you’re in school and during your six-month grace period after leaving school, but the government pays the interest so it won’t affect the total amount you owe at repayment. To qualify for subsidized federal loans you must meet financial need requirements.
• 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.
Understanding your results
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.
Use your results to save money
Private lenders may allow you to lower monthly payment temporarily. To permanently lower monthly payments you’ll need to refinance. 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.
Other student loan calculators
Student loan payoff calculator: Use this calculator to find your debt-free date, and see how extra payments can speed that up.
Student loan refinance calculator: Use this calculator to compare your current loan payment or multiple payments with a refinanced student loan.
Student loan consolidation calculator: Use this calculator to compare your payments under federal loan consolidation plans with your current bills.
Student loan affordability calculator: Use this calculator to determine an affordable monthly student loan payment and how much that allows you to borrow.
Discretionary income calculator: Use this calculator to determine what you would pay under federal income-driven repayment plans.
Weighted average interest rate calculator: Use this calculator to determine the combined interest rate on all your student loans. You’ll need that average to estimate your loan payments under federal loan consolidation programs or to compare student loan refinancing offers.