Student Loan Calculator: The Complete Guide
Plan your student loan repayment with a clear picture of the numbers. Enter your total balance, the interest rate, and the repayment term to see your monthly payment and the total interest you'll pay before the loan is cleared.
Who the Student Loan Calculator is for
Students and graduates budgeting for repayment, comparing standard terms, or estimating the cost of refinancing.
How to use the Student Loan Calculator
- Type your values into the fields above — pick your currency or units where the calculator offers them.
- Results update automatically as you type; there's no submit button and nothing is sent to a server.
- Adjust any input to compare scenarios, then copy the result with a single click.
How it works
Monthly payment = P × r ÷ (1 − (1 + r)^−n), where P is the total balance, r is the monthly interest rate, and n is the number of months (a standard plan is 120 months / 10 years).
Features
- Monthly repayment estimate
- Total interest over the term
- Any currency
- Test different terms
About student loan repayment
Standard student-loan repayment spreads the balance over equal monthly payments, often across ten years. Extending the term lowers the monthly payment but adds interest; paying extra each month clears the balance faster and cheaper. This calculator shows both the monthly and total cost so you can plan.