Student Loan Calculator
Compare monthly payments, total interest costs, and repayment strategies for different loan scenarios
Loan Information
Total amount you need to borrow for college
Current federal rates: 5.5% (undergrad)
Varies by credit score (4-12%)
Federal standard is 10 years
Federal extended up to 25 years
For income-driven repayment calculations
Annual salary increase expectation
Additional Scenarios
Combine multiple federal loans
Private refinancing option
Ready to Compare?
Enter your loan information and click "Compare Loan Options" to see your payment scenarios.
Disclaimer: This calculator provides estimates for educational purposes only. Actual loan terms, interest rates, and repayment options may vary based on creditworthiness, lender policies, and federal program changes. Federal loan benefits and protections are not available with private loans. Consult with financial aid offices and qualified professionals for personalized student loan advice.
Understanding Student Loan Repayment Options
Not all student loan repayment plans cost the same. A longer term lowers your monthly payment but increases total interest; a shorter term does the opposite. Federal loans also offer options private loans don't, like income-driven repayment and forgiveness programs, which can change the math significantly depending on your career path and income trajectory.
This calculator compares standard, extended, income-driven, consolidation, and refinancing scenarios side by side using the same loan balance, so you can see the real trade-offs before choosing a repayment strategy.
How This Calculator Works
Enter your total loan amount, federal and private interest rates, repayment terms, and current income. The calculator computes standard amortized payments for each scenario, a simplified income-driven repayment estimate based on your income, and optional consolidation and refinancing scenarios — then ranks them by total cost and shows a full payment schedule for whichever scenario you select.