Estimate your monthly payment, total interest, and repayment timeline for federal or private student loans.
Use this free calculator to understand how much you’ll pay each month, how much interest you’ll pay over time, and how different repayment terms affect your total cost.
What Your Results Mean
🔹 Monthly Payment
This is the fixed amount you’ll pay each month under a standard repayment plan.
🔹 Total Interest
This shows how much extra you’ll pay beyond your original loan amount.
🔹 Total Cost
The full amount you’ll repay over the life of the loan.
🔹 Loan Term Impact
Longer terms lower monthly payments but increase total interest.
Federal Loans
- Fixed interest
- Income-driven repayment options
- Forgiveness programs
Private Loans
- Credit-based approval
- Limited hardship options
- Often lower rates (but fewer protections)
How to Reduce Your Student Loan Cost
- Make extra payments toward principal.
- Refinance only if losing federal protections isn’t risky.
- Choose shortest affordable repayment term.
- Avoid deferment unless necessary.