Student Loan Calculator
Compare student loan repayment plans and see monthly payments, total cost, and interest for each option.
Quick Answer
This student loan calculator compares repayment plans. Enter your loan balance and rate to see monthly payments, total cost, and interest for Standard, Extended, and Income-Driven options.
How to Use This Calculator
Enter your total student loan balance and interest rate, then choose a repayment plan. Standard (10 years) has higher monthly payments but lowest total cost. Extended (25 years) lowers monthly payments but increases total interest. Income-Driven (20 years) offers the lowest payments with forgiveness after 20 years. The calculator shows monthly payment, total cost, and comparison with the standard plan.
Student Loan Repayment Plans Explained
Standard repayment pays off loans in 10 years with fixed payments — highest monthly cost but least total interest. Extended plans stretch payments over 25 years, lowering monthly cost but increasing total interest significantly. Income-Driven plans cap payments based on income and offer forgiveness after 20 years. Federal loans offer all three options; private loans typically offer only standard terms.