Student Loan Calculator
Calculate monthly student loan payments and total repayment cost under standard, graduated, and income-driven plans.
Input Parameters
Results
Student Loan Repayment Options
Federal student loans offer income-driven repayment (IDR) plans that cap payments at 5-20% of discretionary income. Unpaid interest may capitalize after the grace period. Public Service Loan Forgiveness (PSLF) can forgive remaining balance after 10 years.
What is the Student Loan Calculator?
The Student Loan Calculator helps graduates forecast their financial obligations after college. It estimates standard 10-year monthly repayment plans and visualizes how extra payments can crush student debt faster.
How It Works (Algorithm)
Federal student loans generally operate on a fixed amortization schedule (usually 10 to 20 years). The calculator assumes the interest compounds monthly and computes the required flat payment to eliminate both the tuition principal and the generated interest.
$$ PMT = \frac{P \times r}{1 - (1+r)^{-n}} $$
The standard amortized payment formula used for educational debt.
How to Use It
Input the total amount of student debt you hold upon graduation. Enter your interest rate and the number of years you have to pay it off. The calculator will display your required monthly payment.