Student Loan Calculator
Repayment plan and total interest.
Enter your values
ⓘ Live results
Results
- Monthly payment
- $423.79
- Payoff time
- 10 yr 0 mo
- Total interest
- $12,854.64
- Total repaid
- $50,854.64
- Interest saved by extra payments
- $0.00
Quick answer
Standard student loan repayment runs 10 years; extending the term lowers payments but sharply increases total interest.
How to use the Student Loan Calculator
- 1Enter your total student loan balance.
- 2Enter the weighted average interest rate.
- 3Try adding an extra monthly payment.
Worked example
Using the values the calculator loads with:
Inputs
- Loan balance38000 $
- Interest rate6.1 %
- Repayment term10 years
- Extra monthly payment0 $
Results
- Monthly payment$423.79
- Payoff time10 yr 0 mo
- Total interest$12,854.64
- Total repaid$50,854.64
- Interest saved by extra payments$0.00
Frequently asked questions
Should I pay extra on the highest rate loan?
Yes — target the highest rate first while paying minimums elsewhere.
Do income-driven plans cost more?
Usually yes in total interest, though they can end in forgiveness.
About this calculator
- Built and reviewed by James Whitfield · How we build and test calculators
- Report an error
Results are estimates for general information. For medical, legal, structural or financial decisions, confirm with a qualified professional.