Student loan calculator.

About the Student Loan Calculator

This student loan calculator estimates your monthly payment, the interest that builds during a grace or in-school period, your balance once that interest capitalizes, the total interest over the life of the loan, your payoff date, and a full amortization schedule. It works for federal subsidized and unsubsidized loans as well as private loans, and it lets you test extra payments to see how much interest and time you can save.

Subsidized vs. unsubsidized and the grace period

The grace period is the window (commonly six months) after you graduate, leave school, or drop below half-time before repayment begins. On subsidized federal loans the government covers the interest during school, the grace period, and approved deferments, so nothing is added to your balance. On unsubsidized federal loans and most private loans, interest accrues from disbursement — including during the grace period — even though no payment is due yet. Choose your loan type and grace length above to model either case.

Interest capitalization

If grace-period interest is not paid, it is capitalized — added to your principal when repayment starts. From then on you pay interest on a larger balance (interest on interest), which raises both your monthly payment and your total cost. The calculator shows the grace interest that accrues and the higher “balance at repayment start” so you can see the impact, and why paying interest during school or the grace period helps.

Loan fees and what you actually receive

Most federal student loans charge an origination fee that is deducted from each disbursement, so the cash you receive is a little less than the amount you owe and repay. Private loans may add their own fees. Enter the fee percentage to see the fee amount and your net “amount received,” both of which affect the true cost of borrowing.

Paying off student loans faster

An extra monthly payment goes straight to principal and can save years and thousands in interest — enter one to see the savings. Other options include paying interest during school or the grace period to avoid capitalization, choosing a shorter term if affordable, making biweekly payments, and refinancing to a lower rate (note that refinancing federal loans into a private loan gives up federal protections such as income-driven plans and forgiveness).

Important disclaimer

⚠ Disclaimer: This student loan calculator is for general education and planning only and is not financial advice. It assumes a fixed rate and level payments over a standard repayment term, and approximates grace-period interest. Actual loans may use daily interest accrual, income-driven or graduated plans, changing rates, different fees, and lender-specific capitalization rules. Federal rates are set annually by Congress. Confirm details with your loan servicer.

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