Estimate student loan payments and total repayment costs. Compare a standard repayment schedule with optional extra payments, and see how interest during school or a grace period may affect your balance.
Fixed-rate estimate • School and grace period options • Calculated in your browserStandard and extra-payment comparison
| Measure | Standard schedule | Extra-payment plan |
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Remaining balance
Blue: standard repayment. Green dashed: extra-payment plan.
Repayment schedule
| Period | Loan payment | Extra principal | Interest | Fees | Total cash paid | Balance |
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How to use this student loan calculator
Enter the balance when repayment begins, the annual rate, and a repayment term. If your loan has a school or grace period before payments start, select the option and choose whether interest accrues, is paid monthly, or does not accrue in this illustration. Add an origination fee or extra payments if they apply.
Interest during school and grace periods
Unpaid interest may be handled differently depending on the loan. In this calculator, the “accrue and add to balance” option compounds interest monthly over the selected months, then adds it to the repayment balance. The “pay interest monthly” option shows those payments separately and keeps the balance unchanged during that period. The “no interest accrues” option is a user-selected assumption, not a claim about any loan program.
Monthly repayment estimate
After the selected grace period, the remaining balance is amortized with equal monthly principal-and-interest payments over the chosen term. Interest is calculated on the opening balance each month. Extra payments reduce principal after the scheduled installment, lowering interest in later months.
View the payment formula
For principal P, monthly rate r (annual nominal rate divided by 12), and n monthly payments, the scheduled payment is P × r ÷ (1 − (1 + r)−n). At 0% interest, payment is P ÷ n. If the grace-period interest is capitalized, it is included in P before repayment is calculated.
This is a fixed-rate monthly model. Actual capitalization dates, daily interest, payment due dates, lender rounding, and program rules may change the result.
Origination fees
A financed fee is added to the repayment balance. A deducted fee reduces the initial proceeds while leaving the loan balance as entered. An upfront fee is paid separately. The calculator displays the fee and total cash outflow separately. It does not calculate APR.
Federal, private, and income-based programs
Repayment plans, eligibility, subsidized interest, deferment, forgiveness, and tax treatment vary by country, program, loan type, and borrower. This tool does not determine eligibility, estimate income-driven payments, or project loan forgiveness. Check with your loan servicer or the relevant official program administrator for current terms.
Questions and limitations
Does a grace period always stop interest?
No. Some loans continue accruing interest, and unpaid interest may later be added to the balance. Select the assumption that matches your agreement and confirm it with your servicer.
Does this include scholarships or future borrowing?
No. Enter the balance you expect to repay. Future disbursements, scholarships, grants, and changing rates are not included.
Does the currency selector convert money?
No. It changes the symbol and number formatting only. Convert your amounts before calculating in another currency.
Are my inputs saved?
The calculator performs the estimate in your browser. The website host and installed plugins may have separate analytics or privacy practices.
For general education only. This is not financial, tax, legal, or government-program advice.