Student Loan Calculator
Calculate your student loan payments, compare repayment plans, and see how extra payments can save thousands in interest and years of payments.
Loan Information
Federal rates: 5.5% undergrad, 7.05% grad
Extra amount toward principal
For Income-Driven Plans
Payment Plan Comparison
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Federal Loan Repayment Options
Standard Repayment
Fixed payments over 10 years. Highest monthly payment but lowest total interest.
Income-Driven Repayment (IDR)
Payments based on income and family size. Options include IBR, PAYE, REPAYE, and ICR. May qualify for loan forgiveness after 20-25 years.
Graduated Repayment
Payments start low and increase every 2 years. Good for those expecting income growth.
Extended Repayment
Lower payments over 25 years. Reduces monthly burden but increases total interest.
Student Loan Strategies
Make Extra Payments
Even $50 extra monthly can save thousands in interest. Apply extra payments to principal only.
Consider Forgiveness
Public Service Loan Forgiveness (PSLF) and IDR forgiveness can eliminate remaining debt after qualifying payments.
Refinancing Options
Private refinancing can lower rates but eliminates federal protections like IDR and forgiveness.
