Student Loan Calculator

Worked example

Example 1: $35,000 at 6.5% over 10 years → payment in the high-$300s range before fees. Example 2: same balance with an extra $100/month—interest and term drop; use results only as a planning sketch.

When to use this

• Estimating standard repayment.
• Comparing extra payment scenarios.
• Rough refinance payment checks.
• Teaching amortization on student debt.
• Planning payoff timelines.

Common examples

• $35,000 at 6.5% over 10 years → high-$300s payment sketch.
• Extra $100/month vs standard amortization.
• Refinance rate drop scenario with same balance.
• Shorter 5-year payoff—payment rises, interest falls.
• Multiple loans: model one weighted rate as a rough blend.

Common mistakes

• Ignoring income-driven plan formulas.
• Forgetting interest capitalization events.
• Assuming forgiveness eligibility.
• Blending multiple loans without care.
• Treating results as servicer statements.

How it works

Estimates payment and payoff for student loans under a fixed payment or simple amortization assumption. Income-driven plans, forgiveness, and deferment are not fully modeled.

Limitations

Estimates only for educational purposes. Not financial, tax, or legal advice. Verify figures with your lender, advisor, or official IRS/SSA sources before making decisions.

Privacy and file handling

Your data stays on your device and is not uploaded.

Formula or method

Standard amortization unless a flat payment mode is selected. IDR formulas require income and family size—not covered here.