The Calculator App
Student Loan
Compare standard, graduated, and extended repayment plans, plus a rough income-based estimate, from the balance and rate you enter. This is not a servicer quote or an eligibility check.
$397.42
Illustrative $35,000 balance at 6.5% APR on the standard 10-year plan. Total interest $12,690.02. Not a quote.
How this student loan estimate works
You enter a balance, a rate, a repayment plan, a start date, and an optional extra payment. The page builds a month-by-month schedule for that plan and rolls it up by year. Total interest is the sum of the interest lines in that schedule. It is a planning estimate and not a servicer quote.
Standard, graduated, and extended
A level payment over a shorter term costs the least interest. Stretching the term or starting with a smaller payment lowers what you pay early on, but interest has more time to accrue. The plan comparison shows the first payment, last payment, months, and total paid for each plan on the same balance and rate, so a lower payment is not mistaken for a lower cost.
How interest accrues
Early payments are mostly interest because the balance is high. As the balance falls, the principal share grows. In the income estimate, a payment below the monthly interest does not reduce the balance, so the balance can grow in this model.
Income-driven plans
Income-driven plans exist, and their rules, eligibility, and outcomes depend on your loans and change over time. The income estimate here is a rough illustration built from numbers you can edit. It does not determine whether you qualify for a plan or for any balance to be forgiven.
Federal vs private loans
Federal and private loans can follow different rules for repayment options and protections. Refinancing federal loans into a private loan can end access to federal options. This page treats both the same: a balance, a rate, and a schedule.
Questions
- How is the student loan payment calculated?
- The standard and extended plans use a fixed-rate amortizing schedule. Each month, interest is the unpaid balance times the APR divided by 12, rounded to cents. The payment is the amount that retires the balance over the term you enter, assuming on-time payments and no rate change. The last payment is adjusted so the balance does not go below zero.
- What is the difference between standard, graduated, and extended plans?
- Standard spreads the balance over a fixed number of years with a level payment. Graduated starts lower and steps up on a schedule. Extended stretches the same balance over a longer term, which lowers the payment and usually raises total interest. The graduated schedule on this page is a simplified model, and real plans differ.
- What does the income estimate show?
- It is a rough illustration. Each year the payment is a percent of income above a multiple of a poverty guideline, divided by 12, and income grows by the rate you enter. If that payment is smaller than the interest, the unpaid interest is added to the balance in this simplified model. Any balance left at the end of the horizon is shown as a remaining balance. This is not eligibility, forgiveness, or tax advice.
- Where do the income numbers come from?
- They are editable assumptions, not official facts. The poverty guideline, the percent, the growth rate, and the horizon are all fields you can change. Plan rules change, so check studentaid.gov or your servicer for the rules that apply to your loans.
- How do extra payments work?
- Extra principal is applied after the scheduled principal each month, up to the remaining balance. Interest saved and months saved compare your path with the same plan and no extra payment.
- Should I refinance federal loans with a private lender?
- This calculator does not recommend that. Moving federal loans to a private loan can change which repayment options, deferment rules, and other federal protections apply to you. Compare those differences with your servicer or a qualified advisor before deciding.
- Is this a servicer quote?
- No. The balance and rate are the numbers you type. Capitalized interest, fees, rate discounts, and daily accrual are not modeled. Your servicer’s statement is the source for a payoff amount.