Student Loan Calculator - Calculator See


Student Loan Calculator

Calculate monthly student loan payments, total interest costs, and payoff timelines under standard and income-driven repayment plans.

Calculator Inputs

$
Total undergraduate/graduate debt.
%
Federal Direct loan average ~6.5%.
Repayment duration.

Calculated Results

Standard 10-Year Monthly Payment
$398.24 / month
Total Loan Interest $12,788.80
Total Repayment Sum $47,788.80
Repayment Horizon 120 Months (10 Years)
Values calculate live as you adjust inputs.

About Student Loan Calculator

Models federal and private student loan amortization under standard 120-month schedules.

What is Student Loan Calculator?

Models federal and private student loan amortization under standard 120-month schedules.

How to Use This Calculator

  1. Enter total student loan balance.
  2. Enter interest rate.
  3. Select repayment plan term.
  4. View monthly payments and total interest accrued.

The Mathematical Formula & Variables

Monthly Payment = Balance * (r * (1 + r)^120) / ((1 + r)^120 - 1)

Step-by-Step Worked Example

Scenario: $35,000 student loan at 6.5% over 10 years.

  1. r = 0.065 / 12 = 0.005417; n = 120.
  2. Monthly payment = $397.41.
  3. Total paid = $47,689; Total interest = $12,689.

Result: $397.41 / month

Frequently Asked Questions

Are student loan interest payments tax-deductible?

Yes, you can deduct up to $2,500 in student loan interest paid per year as an above-the-line deduction on your federal tax return.