Know Your
True Loan Cost
Calculate monthly payments, total interest paid, and see a full amortization schedule — all in seconds.
| Month | Payment | Principal | Interest | Balance |
|---|
Results are estimates for educational purposes only. Actual rates and payments may vary.
Federal loan rates are set annually by Congress. Consult your loan servicer or a financial advisor for personalised guidance.
“Note: This calculator provides estimated monthly payments and payoff schedules for educational and planning purposes only. It does not constitute official financial or loan servicing advice. Actual loan terms, interest accrual, and repayment options will vary based on your specific lender, loan type, and federal regulations. Always consult your official loan servicer for exact figures.”
Federal Student Loan Interest Rates (2025–2026)
| Loan Type | Who | Interest Rate |
|---|---|---|
| Direct Subsidized | Undergrad | 6.53% |
| Direct Unsubsidized | Undergrad | 6.53% |
| Direct Unsubsidized | Graduate | 8.08% |
| Direct PLUS Loans | Parents & Grad | 9.08% |
Federal Repayment Plans
| Plan | Term | Best For |
|---|---|---|
| Standard Repayment | 10 years | Paying off fastest, least interest |
| Graduated Repayment | 10 years | Expect income to grow over time |
| SAVE Plan | 20–25 years | Low income, seeking loan forgiveness |
| IBR (Income-Based) | 20–25 years | Financial hardship |
| PSLF | 10 years | Government/nonprofit employees |
Related Calculators
Self-Employment Tax Calculator
Frequently Asked Questions
The average federal borrower owes approximately $37,850. Graduate and professional school borrowers often carry $150,000–$300,000+. Total US student loan debt exceeds $1.7 trillion across 43+ million borrowers. Check with our student loan calculator.
Federal loans have a 6-month grace period after graduation, dropping below half-time enrollment, or leaving school. Private loan terms vary. Always set up auto-pay before the grace period ends to avoid late fees.
Yes — significantly. Extra payments reduce your principal, cutting future interest and your repayment timeline. Even an extra $50/month can save years and thousands of dollars. Tell your servicer extra payments should go to principal, not future payments.
Contact your servicer immediately. Federal loans offer deferment, forbearance, and income-driven repayment plans. Private loans have fewer options — one more reason to think carefully before refinancing federal loans to private.
Yes — up to $2,500 per year, if your MAGI is below $85,000 (single) or $175,000 (married jointly) in 2026. It’s an above-the-line deduction, so you don’t need to itemize to claim it.
A Student Loan Calculator is a financial tool that estimates monthly loan payments, total interest costs, and overall repayment timelines based on factors like loan amount, interest rate, repayment term, and plan type (e.g., standard, income-driven, or graduated).