Estimate the monthly payment and total interest on a student loan.
How the student loan calculator works
Enter your student loan balance, interest rate and repayment term to get the monthly payment and total interest. It uses standard loan amortization.
Try it with these numbers
Worked through, a loan amount of 250,000 produces a monthly payment of $1,580.17. Underneath, Monthly payment comes out at $1,580.17 and Total paid at $568,861.22. Change any field and every figure updates as you type.
How to fill it in
- Enter your figures in the fields provided.
- The result updates as you type.
- Review the breakdown below the main number.
The formula
payment = P × r ÷ (1 − (1+r)⁻ⁿ)
Frequently asked questions
How can I lower student loan costs?
A shorter term or extra payments cut total interest. Refinancing to a lower rate can help too.
Does this cover income-driven plans?
No — it models a standard fixed repayment. Income-driven plans work differently.