Student Loan Repayment Calculator
Estimate your monthly student loan payments, compare repayment plans, and see how extra payments can save you thousands in interest.
Loan Payment Calculator
Monthly Payment
$325.58
Total Interest Paid
$9,069
Total Amount Paid
$39,069
Yearly Amortization Summary
| Year | Principal Paid | Interest Paid | Remaining Balance |
|---|---|---|---|
| 1 | $2,315 | $1,592 | $27,685 |
| 2 | $2,445 | $1,462 | $25,240 |
| 3 | $2,583 | $1,324 | $22,657 |
| 4 | $2,729 | $1,178 | $19,928 |
| 5 | $2,883 | $1,024 | $17,045 |
| 6 | $3,045 | $861 | $13,999 |
| 7 | $3,217 | $690 | $10,782 |
| 8 | $3,399 | $508 | $7,383 |
| 9 | $3,590 | $316 | $3,793 |
| 10 | $3,793 | $114 | $0 |
Extra Payment Payoff Calculator
See how much time and money you can save by making additional monthly payments toward your loan principal.
Affordability Check
Enter your expected monthly income after graduation to see if your loan payment is within a comfortable range.
Federal Student Loan Quick Reference
Current Federal Loan Interest Rates (2024–2025)
Direct Subsidized & Unsubsidized
(Undergraduate)
5.50%
Direct Unsubsidized
(Graduate/Professional)
7.05%
Direct PLUS Loans
(Parent & Grad)
8.05%
Annual & Aggregate Borrowing Limits
| Student Type | Year 1 | Year 2 | Year 3+ | Aggregate Limit |
|---|---|---|---|---|
| Dependent Undergraduate | $5,500 | $6,500 | $7,500 | $31,000 |
| Independent Undergraduate | $9,500 | $10,500 | $12,500 | $57,500 |
| Graduate / Professional | $20,500 per year (Unsubsidized only) | $138,500 | ||
Subsidized loan limits are lower than the totals shown above. The remainder may be borrowed as Unsubsidized loans.
Subsidized vs. Unsubsidized Loans
Direct Subsidized
- Available to undergraduate students with financial need
- The government pays interest while you are in school at least half-time, during grace periods, and during deferment
- Lower overall cost because of the interest subsidy
Direct Unsubsidized
- Available to undergraduate and graduate students; no financial need required
- Interest accrues from the date of disbursement, including while you are in school
- Unpaid interest capitalizes (is added to your principal balance)
Methodology & Assumptions
- Monthly payments are calculated using the standard amortization formula with fixed interest rates.
- Graduated repayment estimates use an approximation. Actual graduated plans increase payments every two years and vary by servicer.
- Income-driven repayment estimates use a 20-year term. Actual IDR payments depend on income, family size, and the specific plan (SAVE, PAYE, IBR, ICR).
- PSLF estimates assume income-driven payments over 120 months (10 years). Actual PSLF eligibility requires full-time employment at a qualifying public service employer and enrollment in an income-driven repayment plan.
- Interest rates shown are for the 2024–2025 award year and are subject to change annually.
- The calculator assumes payments begin immediately and does not account for grace periods, deferment, or forbearance.
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Disclaimer: This calculator provides estimates for educational purposes only and does not constitute financial advice. Actual loan payments may vary based on your servicer, specific repayment plan, interest rate changes, and individual circumstances. Consult your loan servicer or a qualified financial advisor for personalized guidance.