Student Loan Calculator
Estimate a monthly student-loan payment from principal, annual interest rate and repayment term.
About this tool
An educational loan-payment estimate using a standard amortizing-payment formula.
How to use
Actual student loans can include fees, changing rates, grace periods, income-based repayment and other rules. Verify terms with the lender or servicer.
Student Loan Calculator guide
Estimate a monthly student-loan payment from principal, annual interest rate and repayment term. Use the result as an educational estimate and check your school's grading or policy rules when they differ.
Related student tools
GPA · Grade · Attendance · Study Time · All Student Tools
How student-loan payments are estimated
This calculator estimates a loan payment from the principal, interest rate and repayment period. For a standard amortizing loan, each payment covers interest and reduces the outstanding principal. Early payments can contain a larger interest component, while the principal portion generally grows as the balance falls.
The estimate depends on the rate and term you enter. Actual student loans may use different repayment plans, variable rates, capitalization rules, fees, grace periods or income-based payments. Those features can make the real payment different from a simple amortization estimate.
Example
Suppose a loan has a $20,000 balance, a fixed annual rate and a five-year repayment period. The calculator can estimate the regular payment and total scheduled repayment from those inputs. Try a shorter and longer term to see how the payment and total interest change.
Planning tip
Use the estimate to compare scenarios rather than as an official payoff quote. Check your lender or servicer for the exact balance, interest rules, fees and payment schedule before making a financial decision.