Enter a loan amount, interest rate, and term to calculate your monthly student loan payment and total repayment cost.
How to Use the Student Loan Calculator
Loan amount, rate, and term work the same way here as on the Auto Loan and Boat Loan calculators — this version is just scaled for education-loan amounts and typical repayment terms.
Federal and private student loans both amortize the standard way once repayment starts — same fixed-payment formula as a mortgage or auto loan, just applied to education debt instead.
M = P × [r(1+r)ⁿ] ÷ [(1+r)ⁿ − 1]What this tool doesn't model: income-driven repayment plans, subsidized-interest periods where the government covers accruing interest, deferment, or forgiveness programs — all of which are specific to particular loan programs and countries. This is the plain amortization schedule for a fixed-rate loan repaid on a standard term, which is the baseline every one of those special programs modifies in its own way.