Calculator
Student Loan Calculator
Calculate student loan payments, total interest, extra payment savings, and compare refinancing options for federal and private student loans.
🎓
Student Loan Calculator
Calculate monthly payments, total interest, payoff timeline, and compare refinancing options.
💵Loan Details
📊Payment Summary
$341.10
Monthly Payment (Standard (10-year))
$40,932
Total Amount Paid
$10,932
Total Interest
⚡Extra Payment Calculator
See how much faster you pay off and how much interest you save by paying extra each month.
$0
Interest Saved
—
Months Cut Off
🔄Refinancing Comparison
Compare your current rate to a lower refinance rate on the same loan balance and term.
$318.20
New Monthly Payment
$22.91
Monthly Savings
$2,749
Lifetime Savings
📋Income-Based Repayment (IBR) Estimate
IBR caps your payment at 10% of discretionary income (income above 150% of federal poverty line). Forgiveness after 20-25 years.
$15,060
2024 Federal Poverty Level
$27,410
Discretionary Income
$228.42
Est. IBR Monthly Payment
* Estimate only. Actual IBR payments depend on your specific loan servicer calculation. Some borrowers with very low income may have $0 IBR payments.
🏛️2024-25 Federal Student Loan Rates
| Loan Type | Rate |
|---|---|
| Direct Subsidized Loans (Undergrad) | 6.53% |
| Direct Unsubsidized Loans (Undergrad) | 6.53% |
| Direct Unsubsidized Loans (Grad/Prof) | 8.08% |
| Direct PLUS Loans (Parents) | 9.08% |
| Grad PLUS Loans | 9.08% |
Rates apply to loans disbursed July 1, 2024 – June 30, 2025. Rates are fixed for the life of the loan.
📈Repayment Plan Comparison
| Plan | Monthly | Total Paid | Total Interest |
|---|---|---|---|
| Standard (10 yr) | $341.10 | $40,932 | $10,932 |
| Graduated (10 yr) | $170.55 | $44,207 | $11,807 |
| Extended (25 yr) | $203.12 | $60,937 | $30,937 |
| IBR Estimate | $228.42 | $54,820 | $24,820 |