Student loan calculator Compare monthly student loan payments, total interest, payoff timing, and budget fit across standard, extended, graduated, and custom repayment plans.
Display currency
Quick scenarios
Loan and plan assumptions
Enter the current balance, fixed rate, custom term, and the monthly payment you are trying to stay under. Standard, extended, and graduated rows are included automatically for comparison.
Result
$340.64/mo
Standard (10 yr) monthly payment.
10-year fixed baseline with the lowest interest among the common plan rows.
Total paid
$40,877.27
Total interest
$10,877.27
Payoff date
May 2036
Payoff time
10 years
Budget fit
$9.36 under budget
Cost per borrowed $1
1.36
Lowest monthly row
Extended (25 yr): $202.56/mo
Lowest interest row
Standard (10 yr): $10,877.27 interest
First payment split
$162.50 interest / $178.14 principal
Plan comparison
Plan
Monthly
Budget fit
Total interest
Vs standard
Total paid
Standard (10 yr)
$340.64
$9.36 under budget
$10,877.27
Baseline
$40,877.27
Extended (25 yr)
$202.56
$147.44 under budget
$30,768.64
$19,891.37 more interest
$60,768.64
Graduated
$285.94*
$64.06 under budget
$11,896.81
$1,019.54 more interest
$41,896.81
Custom term
$340.64
$9.36 under budget
$10,877.27
Baseline
$40,877.27
* Graduated shows the initial monthly payment; it increases by 10% every two years.
How to use this result
Start with the budget fit column, then check the extra interest against the standard plan. A lower payment can help monthly cash flow, but the table shows the lifetime cost of stretching repayment. If income-based payment rules, forgiveness, or grace-period capitalization matter, confirm those details with your servicer or the official loan simulator for your country.
Student loan repayment: plans, payments, and total cost
A student loan calculator estimates monthly payments, total interest, payoff timelines, and budget fit for education debt. Comparing standard, extended, graduated, and custom repayment options side by side helps you see the trade-off between a lower monthly student loan payment and the higher lifetime cost of stretching repayment.
How student loan repayment is calculated
Student loan repayment uses the same amortization maths as any fixed-rate instalment loan. Each monthly payment is split between interest on the outstanding balance and reduction of the principal. Early payments carry a larger interest component because the balance is highest at the start; over time the interest share falls and principal repayment accelerates.
The standard repayment row divides the loan into 120 equal monthly payments over 10 years. The extended row stretches the term to 25 years, which lowers the monthly student loan payment but increases total interest substantially. A graduated row starts with a lower initial payment that increases at set intervals, typically every two years.
When the interest rate is zero, the monthly payment is simply the balance divided by the number of months. For any positive fixed rate, the calculator applies the standard amortization formula and then compares the result against your monthly payment budget.
M = L x r / (1 - (1 + r)^(-n))
M is the fixed monthly payment, L is the loan balance, r is the monthly interest rate (annual rate / 12), and n is the total number of monthly payments.
Total interest = (M x n) - L
Total interest is the sum of all payments minus the original loan balance. This represents the true borrowing cost.
Comparing repayment plans
The trade-off across plans is straightforward: a longer term lowers your monthly obligation but raises the total cost. A standard 10-year plan on a 30,000 loan at 5% costs roughly 8,184 in total interest. Extending the same loan to 25 years drops the monthly payment by about 40% but increases total interest to more than 22,000.
Graduated plans start below the standard payment and increase by a fixed percentage every two years. They are designed for borrowers who expect rising income, but the higher early balance means more interest accrues over the life of the loan compared to the fixed standard plan.
This calculator does not cover income-driven repayment plans, which tie payments to income and family size and may include forgiveness after a set period. Income-linked calculations require borrower income, household information, loan type, and program-specific rules that vary by country and lender. For US federal loans, Federal Student Aid's Loan Simulator is the authoritative tool for personalised repayment-plan eligibility and income-driven estimates.
Federal Student Aid: Loan Simulator overview — Official overview of how the federal Loan Simulator compares repayment plans, monthly payments, total paid, payoff dates, and forgiveness estimates.
Using the budget-fit result
A student loan repayment calculator is most useful when it connects the payment to a real budget. The budget-fit column shows whether each repayment plan sits under or over the monthly amount you are trying to reserve for student loans. This makes the result more practical than a bare monthly payment number.
If the lowest-payment row is the only option under your budget, compare its total interest against the standard plan before choosing it. A lower bill may be necessary for cash flow, but the extra-interest column shows the lifetime cost of that relief. If the standard row is only slightly above budget, a smaller balance, lower rate, or refinancing quote may close the gap without stretching repayment as far.
The cost per borrowed unit is another quick sanity check. A value of 1.25 means every 1 borrowed costs about 1.25 in total payments before fees or variable-rate changes. This helps compare student loan repayment options across different balances and currencies.
What this calculator is designed to own
This page owns the broad student loan calculator intent: payment, total interest, payoff date, repayment plan comparison, and budget fit for fixed-rate education loans. The dedicated student loan payment calculator is better for grace-period interest, capitalisation, and repayment-start balance questions. The student loan payoff calculator is better for extra monthly payments, lump-sum principal payments, and autopay discount scenarios.
For federal, private, and international education loans, use this page as a planning screen rather than an official repayment quote. Actual servicer calculations can include daily interest accrual, variable rates, fees, minimum-payment rules, deferment, forbearance, capitalisation events, borrower protections, or jurisdiction-specific relief programs.
Frequently asked questions
What is the standard student loan repayment plan?
The standard plan divides your total loan balance into 120 equal monthly payments over 10 years. It results in the lowest total interest cost among fixed-payment plans, but the monthly payment is higher than extended or graduated alternatives.
How does a graduated repayment plan work?
A graduated plan starts with a lower monthly payment that increases at regular intervals, typically every two years. The idea is that payments rise alongside your income over time. However, the higher early balance means more interest accrues, so the total cost is higher than the standard plan.
Does this calculator cover income-driven repayment plans?
No. Income-driven plans tie payments to your income, household size, loan type, and program rules, and may include forgiveness after a set period. Those rules change by jurisdiction and can change over time. For US federal loans, use the official Federal Student Aid Loan Simulator or your servicer for personalised estimates.
What is a student loan repayment calculator best used for?
It is best for comparing monthly payment, payoff date, total interest, and total paid under different fixed-rate repayment terms. Use it before choosing between a standard, extended, graduated, or custom repayment schedule so you can see both monthly affordability and lifetime cost.
Why does the extended plan cost more even when the monthly payment is lower?
The extended plan keeps the balance outstanding for longer. A lower monthly payment reduces pressure on your budget, but more interest accrues over the extra years, so total interest and total paid usually rise sharply.
How should I use the monthly payment budget field?
Enter the amount you can realistically reserve for student loans each month after essentials and savings. The calculator marks which plan rows are under or over that budget, then shows the extra interest you would pay for choosing a lower-payment path.
Can I use this for private student loans?
Yes, if you are modelling a fixed-rate private student loan with a known balance, annual rate, and term. Private loans may have different fees, variable-rate terms, cosigner requirements, hardship options, or refinance rules, so confirm final figures with the lender.
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