Free student loan calculator
Calculate student loan monthly payments under standard or income-based repayment — enter balance, interest rate, and term to see payment and total interest, updated live, as you type.
On this page10 sections
Standard repayment plan only. Income-driven repayment, deferment, and forbearance change actual payments. Federal vs. private loan terms differ significantly.
Results are estimates. Consult a professional.
How the student loan calculator works
Federal student loan payments use standard loan amortization math. The calculator applies the fixed monthly rate to the outstanding balance to find that month's interest, subtracts it from the payment, and reduces the principal by the remainder — repeating for every month of the repayment term. For income-driven repayment (IDR), the payment is instead a percentage of discretionary income, independent of the balance.
Worked example: $35,000 Direct Unsubsidized loan at 6.53%
Morgan graduates with $35,000 in Direct Unsubsidized loans at the 2024–25 undergraduate rate of 6.53% APR. They enter the standard 10-year repayment plan immediately after the 6-month grace period expires. What is the monthly payment and total interest cost?
Monthly payment and total interest by loan balance and rate
The table shows standard 10-year repayment costs at 2024–25 federal rates for common loan balances. Grad PLUS and Parent PLUS loans use the 9.08% rate.
| Loan balance | 6.53% — payment | 6.53% — total interest | 8.08% — payment | 8.08% — total interest | 9.08% — payment | 9.08% — total interest |
|---|---|---|---|---|---|---|
| $20,000 | $226 | $7,154 | $244 | $9,247 | $254 | $10,463 |
| $35,000 | $396 | $12,520 | $428 | $16,182 | $445 | $18,310 |
| $50,000 | $566 | $17,883 | $610 | $23,153 | $635 | $26,143 |
| $75,000 | $849 | $26,824 | $916 | $34,729 | $953 | $39,214 |
| $100,000 | $1,132 | $35,765 | $1,221 | $46,306 | $1,271 | $52,286 |
Source: Federal Student Aid, U.S. Dept. of Education 2024–25 interest rates. Standard 10-year (120-month) repayment. Figures computed by this calculator.
Tips for managing student loan repayment
Federal student loans come with repayment flexibility that private loans do not — take advantage of the options before defaulting to the standard plan.
- Compare standard vs. income-driven repayment. If your payment under the standard plan exceeds ~10–15% of your monthly take-home pay, an income-driven plan (SAVE, IBR, PAYE) can cap payments at a manageable percentage of discretionary income.
- Enroll in autopay for a rate discount. Most federal loan servicers offer a 0.25% interest rate reduction for setting up automatic monthly payments — that saves about $1,100 over 10 years on a $35,000 loan.
- Pay during your grace period. The 6-month post-graduation grace period is interest-free for subsidized loans but not unsubsidized ones. Making payments during the grace period on unsubsidized loans prevents interest from capitalizing into your balance.
- Consider Public Service Loan Forgiveness (PSLF). If you work for a qualifying government or nonprofit employer, 120 qualifying payments under an income-driven plan result in tax-free forgiveness of the remaining balance.
- Refinance private loans selectively. Refinancing federal loans into a private loan permanently removes access to income-driven repayment, PSLF, and federal forbearance. Only refinance federal loans if you are confident you won't need those protections.
Accuracy and limitations
This calculator uses the 2024–25 federal interest rates for illustration. Rates are set annually and differ by loan type and disbursement year — your actual rate appears on your loan disclosure. The calculator models standard fixed-rate repayment and does not simulate interest capitalization during deferment, income-driven payment recalculations, or the tax consequences of forgiveness under IDR plans (which may be taxable income after 2025 legislation).
Not financial advice — consult a financial professional for your situation.
Student loan terms defined
About this student loan calculator
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