Estimate your monthly payment and total interest on a federal or private student loan using the standard repayment formula.
Enter Your Details
Your Student Loan Payment
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Total Amount Paid—
Total Interest—
Formula
Payment = Balance × r(1+r)^n / ((1+r)^n - 1), where r is the monthly rate and n is the term in months.
Example
A $28,000 balance at 6.5% on the standard 10-year plan has a monthly payment of about $318, with roughly $10,120 in total interest over the life of the loan.
Not tax or financial advice. This calculator provides general estimates based on published 2026 figures. Always confirm important figures with the IRS, SSA, your state tax agency, a licensed lender, or a qualified professional.
Frequently Asked Questions
Does this calculator model income-driven repayment plans?
No, this shows the standard fixed repayment formula. Income-driven federal plans base payments on income and family size, which can produce a very different monthly amount.
Does paying extra toward student loans help?
Yes, extra payments toward principal reduce the balance faster and cut total interest, similar to any other amortizing loan.