Student Loan Calculator
Modify the values and click the Calculate button to use
Student Loan Repayment Calculator
Use the calculator below to evaluate the student loan payoff options, as well as the interest to be saved.
Repayment Options:
The remaining term of the loan is 2 years and 4 months. By paying an extra $200.00 per month, the loan will be paid off in 1 year and 11 months. It is 5 months earlier. This results in savings of $355.43 in interest payments.
If Pay Extra $200.00 per month
The Original Payoff Schedule
Student Loan Projection Calculator
Use the calculator below to estimate the loan balance and repayment obligation after graduation.
Do you pay interest during school years?
* For some direct subsidized loans, you do not need to pay interest during school years or the grace period.
* This calculator assumes loans to be repaid each month equally right after graduation or grace period. It also does not take into account any loan fees.
Result
Student Loan Calculator – Plan, Repay & Project Loan Costs
Managing student loans can feel overwhelming. Our all-in-one Student Loan Calculator gives you three essential tools in one place:
a Simple Loan Calculator, a Repayment Calculator, and a Projection Calculator. Estimate monthly payments, total interest, and long-term repayment plans with ease.
What is a Student Loan?
A student loan is money borrowed to cover education-related expenses such as tuition, books, and living costs. Like any loan, it must be repaid with interest over time.
Student loans are designed to make higher education accessible, but they can create long-term debt if not managed wisely.
Types of Student Loan Calculators
Our page combines three calculators in one to give you a complete picture of your student debt:
1. Simple Student Loan Calculator
The Simple Student Loan Calculator provides a quick overview of your monthly payments and total interest based on:
- Loan amount (how much you borrowed)
- Interest rate (annual percentage)
- Loan term (number of years)
This tool is best for students who want an instant estimate of their monthly payment and total repayment without detailed breakdowns.
2. Student Loan Repayment Calculator
The Repayment Calculator helps you plan how to pay off your student loans faster.
By entering your loan details and choosing a repayment strategy (standard, accelerated, or custom extra payments),
you can see how much interest you’ll save and how much sooner you’ll be debt-free.
This calculator is ideal for graduates who want to budget for monthly payments and explore faster repayment options.
3. Student Loan Projection Calculator
The Projection Calculator gives a long-term view of your loan repayment journey.
It shows how your balance decreases over time, how interest accumulates, and how extra payments can reduce your repayment timeline.
This tool is perfect for long-term financial planning, helping you understand the real cost of borrowing over several years.
How Does This Tool Work?
Our calculators use the standard loan amortization formula. Based on your loan amount, interest rate, and repayment period,
the tool automatically calculates:
- Monthly repayment amount
- Total interest payable
- Total repayment (principal + interest)
- Repayment timeline with or without extra payments
Why Use a Student Loan Calculator?
- ✅ Understand your repayment obligations before borrowing
- ✅ Compare repayment strategies and save on interest
- ✅ Visualize loan repayment progress with projections
- ✅ Make smarter financial decisions about education and budgeting
Example Student Loan Calculation
Suppose you borrow $25,000 at 5% interest for 10 years:
- Simple Loan Calculator: Monthly payment ≈ $265, Total repayment ≈ $31,800
- Repayment Calculator: With extra $100/month, you finish 2 years early and save ≈ $2,800 in interest
- Projection Calculator: Shows balance dropping steadily, with interest adding about $6,800 over 10 years
This example shows how different repayment strategies can significantly impact your financial future.
FAQs About Student Loan Calculator
Can I use this calculator for federal and private student loans?
Yes, the calculator works for both federal and private loans, as long as you know your interest rate and repayment term.
Does the repayment calculator include forgiveness programs?
No, it only calculates standard repayment. For forgiveness or income-driven plans, check your loan provider’s options.
How accurate are the projections?
They are highly accurate based on the entered values, but actual repayment may vary depending on interest changes and extra fees.
Can I add extra payments?
Yes, the repayment and projection calculators allow you to enter extra payments and see how they reduce loan costs.
Conclusion
Student loans are a major financial responsibility, but with the right planning, they don’t have to feel overwhelming.
Our Student Loan Calculator combines three tools—Simple, Repayment, and Projection—to give you a complete picture of your education debt.
Use it to budget smarter, repay faster, and plan for a debt-free future.
Start using the calculator today and explore more free tools at Money Matrix Guide.