Student Loan Calculator
Calculate your monthly student loan payment under a standard repayment plan.
Enter your numbers and select Calculate to see results.
About This Calculator
This calculator estimates your monthly payment under the standard 10-year federal student loan repayment plan, or any custom term for private loans. Enter your balance, interest rate, and term to see your payment, total interest, and full schedule.
How This Is Calculated
M = P [ i(1+i)^n ] / [ (1+i)^n − 1 ]
- M
- — Monthly payment
- P
- — Loan balance
- i
- — Monthly interest rate (annual rate ÷ 12)
- n
- — Repayment term in months
A $30,000 balance at 5.5% over the standard 10-year term has a monthly payment of about $326.
Assumptions
- Models standard fixed-payment repayment; does not model income-driven repayment plans (IBR, PAYE, SAVE), which calculate payments as a percentage of income instead.
- Assumes a fixed interest rate for the full term.
Frequently Asked Questions
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Last updated January 15, 2026. Results are estimates for informational purposes only — read our disclaimer.