Student Loan Calculator
Estimate your monthly student loan payment, total interest, and payoff date.
Your student loan payment depends on your balance, interest rate, and repayment term. The federal standard plan runs 10 years. On a $30,000 balance at 6% over 10 years the payment is about $333 a month, with roughly $9,967 in total interest. Enter your own numbers to see the payment and how much interest you pay over the full term.
These results are estimates for informational purposes only and are not financial, tax, or legal advice. Your actual figures from a lender or the IRS may differ. Consult a qualified professional before making decisions.
Estimated monthly payment
$333.06
Principal vs. interest paid per year
Amortization schedule
| Year | Principal | Interest | Balance |
|---|---|---|---|
| 1 | $2,258 | $1,739 | $27,742 |
| 2 | $2,397 | $1,599 | $25,344 |
| 3 | $2,545 | $1,451 | $22,799 |
| 4 | $2,702 | $1,294 | $20,097 |
| 5 | $2,869 | $1,128 | $17,228 |
| 6 | $3,046 | $951 | $14,182 |
| 7 | $3,234 | $763 | $10,948 |
| 8 | $3,433 | $563 | $7,515 |
| 9 | $3,645 | $352 | $3,870 |
| 10 | $3,870 | $127 | $0 |
About the Student Loan Calculator
This calculator estimates the monthly payment on a student loan under a standard fixed schedule, the way federal Direct Loans and most private loans are repaid. Federal loans come in subsidized and unsubsidized forms. On a subsidized loan the government covers interest while you are in school and during the six-month grace period after you leave; on an unsubsidized loan that interest builds the whole time and is added to your balance when repayment starts, which is called capitalization. Two levers change the payment. A longer term lowers the monthly bill but raises lifetime interest, and a lower rate does the opposite. Federal borrowers who find the standard payment tight can switch to an income-driven plan, where the bill is tied to earnings rather than balance, though stretching repayment that way usually means paying more interest in the end. The figures here assume a fixed rate and equal payments, so they line up with the standard plan rather than graduated or income-driven options.
Frequently asked questions
What is the difference between subsidized and unsubsidized loans?+
On a subsidized federal loan the government pays the interest while you are enrolled at least half-time and during the grace period. On an unsubsidized loan interest accrues from the day it disburses, so the balance grows before you make your first payment.
How long is the standard student loan repayment term?+
The federal standard repayment plan is 10 years (120 monthly payments). Consolidation or income-driven plans can extend repayment to 20 or 25 years, which lowers the monthly amount but increases the total interest you pay.
What is the grace period on student loans?+
Most federal student loans give you six months after you graduate, leave school, or drop below half-time before payments begin. Interest on unsubsidized loans still accrues during that window and is capitalized when repayment starts.
Should I pay off student loans early?+
Paying extra reduces total interest and shortens the term, and federal loans carry no prepayment penalty. Weigh it against the loan's rate: clearing a 7% private loan early often beats investing, while a low-rate subsidized loan is less urgent.