CALCULATOR TOOLS
Student Loan Calculator
Student loan payment and payoff date on standard or extended plans, and how extra payments cut interest.
Calculated in your browser – nothing you enter is sent or stored.
This student loan calculator shows your monthly payment, total interest and payoff date for federal or private student loans. Compare 10-, 15-, 20- and 25-year repayment, see how much extra payments save, include interest that builds up while you are in school, and check the payment against your expected salary.
How to Use the Student Loan Calculator
- Enter your total balance. With several loans, add them up and use a weighted-average rate – your loan servicer's website lists each loan.
- Choose a repayment term. The federal Standard plan is 10 years.
- Enter any extra payment you can make each month.
- If you are still in school or in your grace period, enter the months until repayment starts. Unpaid interest on unsubsidized loans is added to your balance when repayment begins.
Example: $35,000 at 6.52%
6.52% is the 2026–27 rate for new federal Direct loans to undergraduates. On $35,000, the 10-year Standard plan costs $397.77 a month and $12,733 in interest. Adding $100 a month pays the loan off in 7 years 5 months and saves about $3,517.
| Term | Monthly payment | Total interest |
|---|---|---|
| 10 years (Standard) | $397.77 | $12,733 |
| 20 years | $261.36 | $27,727 |
| 25 years (Extended) | $236.76 | $36,028 |
Stretching to 25 years lowers the payment by $161 but nearly triples the interest.
2026–27 Federal Student Loan Rates
| Loan | Fixed rate (first disbursed July 1, 2026 – June 30, 2027) |
|---|---|
| Direct Subsidized and Unsubsidized (undergraduate) | 6.52% |
| Direct Unsubsidized (graduate and professional) | 8.07% |
| Direct PLUS (parents and graduate students) | 9.07% |
Federal rates are fixed for the life of each loan and reset every July for new loans. Private loan rates depend on your credit and may be variable.
Income-Driven Repayment and Forgiveness
If the standard payment is too high compared with your income, federal loans offer income-driven repayment, where the payment is based on your income and family size. The One Big Beautiful Bill Act of 2025 changes these plans for new loans from July 2026, including a new Repayment Assistance Plan. Because rules are changing, use the official Loan Simulator on StudentAid.gov to see which plans you qualify for. Public Service Loan Forgiveness (PSLF) forgives the remaining balance after 120 qualifying payments for eligible public-sector and nonprofit workers.
Tips to Pay Off Student Loans Faster
- Sign up for autopay – federal servicers take 0.25 percentage point off your rate.
- Pay interest during school on unsubsidized loans so it isn't added to your balance.
- Target the highest-rate loan with extra payments – see the debt payoff calculator.
- Think twice before refinancing federal loans into a private loan: you lose income-driven plans and forgiveness options.
Sources
- Federal Student Aid – Interest rates and fees for federal student loans
- Federal Student Aid – Loan Simulator
- FSA Partners – Interest rates for Direct Loans first disbursed July 1, 2026 to June 30, 2027
Last reviewed: October 2026 by the ShrinkBee team. Results are estimates for planning and education, not financial, tax, legal or medical advice.
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