Estimate your monthly student loan payment and total repayment cost. Plan your payoff strategy for federal or private student loans.
Personal loan rates — updated April 2026
| Lender | Rate | APR | Est. Payment | Action |
|---|---|---|---|---|
Fast Fund LendingBest Rate | 7.990% | 8.500% | $416/mo | Check Rate |
Direct Lender Plus | 8.490% | 9.000% | $422/mo | Check Rate |
Personal Loans Co | 9.490% | 10.100% | $434/mo | Check Rate |
Credit Builder Loan | 10.990% | 11.500% | $449/mo | Check Rate |
Rates shown are for illustrative purposes. Actual rates may vary based on credit score, loan amount, down payment, and market conditions. Contact lenders directly for personalized rate quotes.
The average student loan borrower graduates with over $37,000 in debt. Between federal income-driven repayment plans, standard 10-year repayment, and refinancing options, the right strategy depends on your income, loan type, and career trajectory. This calculator compares all your options.
The Student Loan Calculator estimates monthly payments and total costs using standard amortization formulas for federal and private student loans. It calculates payments based on the loan balance, interest rate, and repayment term, assuming fixed monthly payments over the full loan period. This tool helps students and graduates understand their debt obligation and make informed decisions about repayment strategies, refinancing, and loan consolidation. The calculator compares standard 10-year repayment with extended terms, showing how longer repayment periods reduce monthly payments but increase total interest paid. It demonstrates the impact of interest capitalization for unsubsidized loans and shows how making payments while in school can reduce total costs. Federal student loans offer income-driven repayment plans and forgiveness programs that this calculator does not account for; those options may result in significantly different outcomes than standard repayment calculations.
Result: Monthly Payment: $379.68. Total Interest: $10,561.60. Total Cost: $45,561.60.
Understanding how to use financial calculators effectively requires knowing the underlying concepts. The student loan involves several key financial principles that affect your results.
Our calculator uses industry-standard formulas verified by certified financial professionals. The inputs you provide are processed entirely in your browser — we never store or transmit your financial data. Results update in real time as you adjust values, allowing you to explore different scenarios quickly.
For the most accurate results, use current figures from your most recent financial statements. If you are unsure about a specific input, our default values represent national averages based on data from the Federal Reserve, IRS, and Bureau of Labor Statistics.
Remember that calculator results are estimates for educational purposes. Your actual financial situation may differ based on factors like your credit score, specific lender terms, local regulations, and market conditions. We recommend consulting with a qualified financial professional before making major financial decisions.
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Results are estimates only and not financial advice. Calculator logic verified by David Park, CFA. Full disclaimer · Methodology