Student Loan Calculator

How to use

1. 1Pick a mode: Single loan for one balance and rate, or Multiple loans to combine several into one monthly payment.
2. 2Choose a loan type (Federal Subsidized, Federal Unsubsidized, Grad PLUS, Parent PLUS, or Private) to seed a sensible rate, then edit the amount, rate, repayment term, and in-school plus grace months.
3. 3Toggle Subsidized on for Federal Direct Subsidized loans so interest is not added during the grace period; leave it off for everything else.
4. 4Read the monthly payment, total interest, principal at start of repayment, and estimated payoff month on the right.
5. 5Optional: enter an extra monthly payment to see how much time and interest you save. Click Show amortization schedule for the month-by-month breakdown, or copy it as CSV for a spreadsheet.

About this tool

Student Loan Calculator answers the four questions every student-loan borrower asks: what is my monthly payment, when will I be debt free, how much will I pay in interest, and how much do I save by paying a little extra each month. Single-loan mode takes a principal amount, an annual interest rate, a repayment term in years, an in-school plus grace-period length in months, and a subsidized flag, then runs the standard fixed-rate amortization formula M = P times r times (1+r)^n divided by ((1+r)^n minus 1) and reports the monthly payment, total interest paid during repayment, an estimated payoff month, and a full month-by-month amortization schedule you can export as CSV. For unsubsidized federal loans (Direct Unsubsidized, Grad PLUS, Parent PLUS) and most private loans, interest accrues from disbursement and capitalizes onto the principal when repayment begins, so the calculator adds principal times rate times (graceMonths divided by 12) to the principal before the amortization runs; for Federal Direct Subsidized loans the subsidized toggle skips that step, matching how the Department of Education actually treats those loans. Multi-loan mode lets you stack up to 12 separate loans (typical for a student with subsidized, unsubsidized, and one private loan) with their own rates, terms, and grace months, and reports the combined monthly payment, the longest payoff date, and a per-loan breakdown of payment, interest, and total cost. An optional extra-monthly-payment field shows the new payoff date, the months saved, and the interest saved if you keep paying that extra amount every month. Loan-type presets seed sensible default rates (6.53% for Direct Subsidized and Unsubsidized, 9.08% for PLUS, 8.5% for private) drawn from recent published federal rates; you can edit every value, switch currencies between USD, EUR, GBP, CAD, AUD, JPY, and INR, and the math runs locally on your device so balances, rates, and personal numbers stay in your browser. Useful for prospective students sizing borrowing limits before committing, current borrowers projecting payoff dates, graduates choosing between the 10-year standard plan and longer extended plans, parents evaluating Parent PLUS payment burdens, anyone considering refinancing into a private loan, and borrowers running 'what if I add $50 a month' scenarios without signing up for a financial planning service. The model assumes fixed rates and standard amortization; it does not include income-driven repayment plans (PAYE, SAVE, IBR, ICR), federal forgiveness programs (PSLF, Teacher Loan Forgiveness), discharge events, deferment hardship rules, late fees, or variable-rate adjustments, so always confirm exact figures with your loan servicer before making decisions.

Free to use. Works in your browser. No signup, no login.