Financial Tools
Student Loan Calculator
Estimate your student loan payment, the interest over the life of the loan, and how much an extra payment each month changes both.
Loan Balance
Interest Rate (% per year)
Repayment Term
Extra Payment Each Month
Annual Gross Income (optional, to check the payment share)
Values shown are examples. Federal income-driven plans and forgiveness programs are not modelled here.
Repayment Summary
| Monthly Payment | $0 |
| Total Interest | $0 |
| Total of All Payments | $0 |
| Payoff Date | n/a |
| Interest Accruing per Day | $0 |
| Payment as Share of Monthly Income | n/a |
| With the Extra Payment: Payoff | n/a |
| Time Saved | n/a |
| Interest Saved | $0 |
For illustration only, not financial advice. Results are estimates based on the numbers you enter and do not constitute an offer, rate quote or approval.
Refinancing changes every number on this page.
Compare published student loan refinance offers with rate, term and fee.
Questions people ask
How is the monthly student loan payment calculated?
It is the standard fixed payment that clears your loan balance at your interest rate over the repayment term you pick. The page does not model federal income-driven plans or forgiveness programs.
How does the extra payment change my loan?
The page adds the extra amount to every payment and applies it to principal. It then shows the new payoff date, the months saved and the interest saved against the standard schedule.
What is Interest Accruing per Day?
It is your current balance times the annual rate, divided by the days in a year. It shows how much interest builds on the balance each day before payments.
What does Payment as Share of Monthly Income show?
If you enter your annual gross income, the page divides the monthly payment by one twelfth of it. Leave the income blank and the line shows n/a.
