Student Loan Calculator

The student loan repayment calculator estimates the monthly repayment amount, total interest, balance, and saving if pay extra.

Loan Balance 
Loan Termyears
Interest Rate%
Pay Extra/month



Total Interest:$9,967.38

If You are Still in College or Haven't Started

To Graduate Inyears
Estimated Loan Amount/year
Current Balance 
Loan Termyears
Grace Periodmonths
Interest Rate%
Do you pay interest during school years?



Amount Borrowed:$40,000.00
Balance After Graduation:$43,736.49
Balance After Grace Period:$45,065.10
Total Interest:$20,037.80
* Grace period is the period that you are graduated but do not need to repay the student loan yet.
* For some direct subsidized student loans, you do not need to pay interest in school years and in grace period.

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There are two types of providers of student loans in the U.S.: Government and Private. State and Federal government offer the lion's share of student loans in the country, and they offer considerable advantages, because the loans they offer are subsidized. This means that, while the students are at their studies, they do not pay interest on the loans. The cost of the subsidized loans is also much lower than those offered by the private sector.

Some of the Federal loan offers are the Federal Perkins Loans, Direct Subsidized Loans,

Some of the state loan offers are Strafford loans, Pell loans, and William D. Ford Direct loans. But the fifty states have a wide variety of local loan offers as well. The student should consult the state's department of post-secondary education for details about state-specific aid that is available.

In most states, student loan application protocol requires each candidate to file a Free Application for Federal Student Aid (FAFSA). Individual state filing deadlines are frequently earlier than the federal standard, so make sure your timetable reflects whichever comes first. State loans have additional unique eligibility requirements, so use these state-specific pages to access particular program information.

If it is not possible to obtain sufficient lending to pay for a child's entire education, then private lenders should be consulted. Banks and loan companies offer student loans as well, but these are not subsidized, and so interest payments usually must be made for the life of the loan. Interest rates are also considerably higher. It is important to consult a number of potential lenders and to compare before making a decision.

When students graduate, they often struggle to repay student loans. It is now possible to become eligible for income-based repayment plans that cap the amount that the student repays each month based on available income. These plans do prolong the life of the loans, but they relieve the burden of too-large payments.

* Depend on the loan type, payment schedule, or factors that not being considered in this student loan calculator, the real result of your loan can be different.
* This student loan calculator assumes the loan to be equally repaid every month right after graduation.
* This student loan calculator did not consider any loan fees