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Calculate student loan payments with standard, graduated, and extended repayment plan comparison.
A student loan calculator estimates monthly payments, total interest, and total cost of repaying student loans using the standard amortization formula based on loan balance, interest rate, and repayment term.
| Loan Type | Rate | Borrower |
|---|---|---|
| Direct Subsidized | 5.50% | Undergraduate |
| Direct Unsubsidized | 5.50% | Undergraduate |
| Direct Unsubsidized | 7.05% | Graduate |
| Direct PLUS | 8.05% | Parent/Graduate |
| Private (avg) | 4–14% | All |
Formula
Monthly Payment = P × [r(1+r)^n] / [(1+r)^n − 1]P = Principal loan balance
r = Monthly interest rate (annual rate ÷ 12)
n = Total number of monthly payments
Worked Example
$35,000 loan at 5.50% for 10 years
Did you know? According to the Federal Reserve, Americans hold over $1.77 trillion in student loan debt as of 2024, with the average borrower owing approximately $37,850. The standard 10-year repayment plan minimizes total interest paid.
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