Student Loan Calculator
Monthly payment, total interest and the payoff boost from extra payments.
Your numbers
How this calculator works
Student loans are often the first large debt people carry, and the standard 10-year plan is just one option. This student loan calculator shows what that standard plan really costs: your fixed monthly payment, the total interest over the life of the loan, and a year-by-year balance chart. Because federal and private student loans amortize like any other installment debt, each payment splits into interest on the remaining balance plus principal, so the early years are interest-heavy.
The extra-payment input is where the real planning happens. Adding even $50–$100 a month goes straight to principal and can shave years off the schedule while saving thousands in interest, the calculator shows your new payoff date and exact interest saved. Before refinancing, compare: a lower private-loan rate helps only if you are comfortable giving up federal protections like income-driven repayment and deferment. Use the results to pick a payment you can sustain, automate it, and direct any windfalls (tax refunds, bonuses) at the highest-rate loan first.