A walkthrough, end to end.
- 1
Enter the loan amount, interest rate, and term in years.
- 2
Toggle between standard 10-year, extended 25-year, and graduated payment plans.
- 3
See total interest paid and monthly payment for each scenario.
Student loan repayment math
Same amortization formula as any other installment loan. Income-driven plans use a percentage of discretionary income (10–20% depending on plan); the calculator handles standard fixed-payment plans here.
What you can do with this.
Standard 10-year repayment
$30K at 6% over 10 years = $333/mo, $10K total interest. Default federal plan; lowest total interest. Best for borrowers whose income comfortably supports the payment.
Extended 25-year repayment
$30K at 6% over 25 years = $193/mo, $28K total interest. Lower payment but nearly 3× the interest. Use when income won't support standard but income-driven plans don't apply.
Graduated repayment
Starts low, increases every 2 years. Useful for early-career borrowers expecting income growth. Total interest similar to standard 10-year for those who follow the schedule. Federal student loans only.
Income-driven repayment (IDR) — SAVE / IBR / PAYE
Federal IDR plans cap monthly payment at 10–20% of discretionary income. Forgive remaining balance after 20–25 years. Math depends on income — this calculator handles fixed-payment scenarios.
Public Service Loan Forgiveness (PSLF)
Federal loans on income-driven plans forgiven after 120 qualifying payments while working for government/nonprofit. The math goal becomes minimizing payment, not interest — exact opposite of standard advice.
Refinancing student loans
Private refinance can lower rate but waives federal protections (forbearance, IDR, PSLF eligibility). For borrowers with stable high income who don't need protections, refi can save $5K–20K+.
Federal vs. private loans
Federal loans have fixed rates set by Congress yearly, with borrower protections. Private loans have variable or fixed rates from banks/credit unions. Different tools, different strategies.
Student loan calculator 2026 — what's current
SAVE plan continues evolving through court challenges. Federal student loan rates set yearly — undergrad subsidized 6.5%, unsub 6.5%, grad PLUS 8.05% as of 2025-26 academic year. Check current rates at studentaid.gov.
Frequently asked.
Only if you don't need federal protections (income-driven plans, forgiveness, deferment). For high-income borrowers in stable careers without PSLF, refi can save substantially. For lower or variable income, keep federal.
Up to $2,500/year of student loan interest is deductible (US, with income limits). Above-the-line deduction — no need to itemize. Can save 22-37% of the deducted amount in federal tax.
Federal: enroll in income-driven plan (often $0/mo for low income). Private: contact lender about deferment/forbearance. Default has serious consequences — pursue all alternatives first.
No. Calculations run entirely in your browser.