See your monthly payment and total interest before you borrow
Loan Details
Add extra principal payments to pay off faster.
Repayment Summary
Principal vs Interest
Amortization Schedule
View the full month-by-month breakdown of principal and interest payments.
Disclaimer: Results are estimates based on standard amortization and do not account for origination fees, capitalized interest during deferment, income-driven repayment adjustments, or tax deductions. Consult your loan servicer or a financial advisor for personalized guidance.
Use this free student loan calculator to instantly find your monthly payment and total interest based on your loan amount, interest rate, and repayment plan. Whether you are on a standard 10-year plan, an extended 25-year plan, or a custom term, the full amortization schedule shows exactly how each payment splits between principal and interest — and how much extra payments can save you.
The calculator uses the standard amortization formula: M = P × [r(1+r)^n] / [(1+r)^n − 1], where P is the loan balance, r is the monthly interest rate (annual rate ÷ 12), and n is the number of monthly payments. This is the same method used by federal and private loan servicers.
The Standard plan spreads payments over 10 years (120 months), resulting in higher monthly payments but less total interest. The Extended plan stretches repayment to 25 years (300 months), lowering the monthly payment but significantly increasing the total interest paid over the life of the loan.
Even a small extra payment — $50 or $100 per month applied to principal — can save thousands in interest and shave years off your loan. The calculator shows exactly how many months you save and the total interest reduction when you enter an extra payment amount.
Yes. Both federal and private student loans use standard amortization, so the math is identical. Enter your loan balance, interest rate, and term. Note that income-driven repayment (IDR) plans for federal loans use a different formula based on income; this calculator is best suited for fixed-payment plans.