Student Loan Calculator
Estimate your monthly student loan payments and total interest cost.
$
%
Yrs
Monthly Payment
$330.06
Total Principal Paid
$30,000.00
Total Interest Paid
$9,606.66
Understanding Your Student Loans
Student debt can feel overwhelming, but understanding exactly how much you owe and what your monthly commitment looks like is the first step toward financial freedom.
Use our Student Loan Calculator to see the massive impact of your interest rate. A standard repayment plan is 10 years, but many borrowers opt for 20 or 25-year plans to lower their monthly payment—at the cost of paying thousands more in total interest.
Subsidized vs. Unsubsidized Loans
| Feature | Subsidized Loans | Unsubsidized Loans |
|---|---|---|
| Interest while in school | Paid by the government. | Accrues and is added to your balance. |
| Eligibility | Based on financial need. | Available regardless of financial need. |
| Best Strategy | Pay minimums until graduation. | Try to pay the interest while in school to avoid capitalization. |
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Frequently Asked Questions
How are student loans calculated?
Student loans are typically amortized, meaning your monthly payment is fixed. Early payments consist mostly of interest, while later payments pay down the principal balance. Our calculator handles this standard amortization math instantly.
Does interest accrue while I am in school?
It depends on the type of loan. Subsidized government loans do not accrue interest while you are enrolled at least half-time. Unsubsidized and private loans do accrue interest immediately, which is added to your principal balance when you graduate (capitalization).
Can I pay off my student loan early?
Yes! Student loans rarely have prepayment penalties. Paying extra toward your principal each month is one of the best ways to get out of debt faster and save thousands of dollars in long-term interest.