Student Loan Calculator

Standard amortization M = P x r x (1+r)^n / ((1+r)^n - 1). Payment is fixed so the loan is fully paid by the end of the term.

On unsubsidized loans, interest accrues during the grace period (often 6 months). When enabled, accrued interest capitalizes into principal before amortization begins.

Switch to the Extra Payment tab to see reduced payoff months and interest saved — even $50 extra per month can cut thousands in interest.

Yes, the Student Loan Calculator is 100% free with no registration, no hidden fees, and no usage limits. All processing happens locally in your browser, ensuring complete privacy.

Absolutely. The Student Loan Calculator processes everything client-side in your browser. No data is uploaded to or stored on any server. Your content remains private on your device at all times.

Yes, the Student Loan Calculator is fully responsive and works on smartphones and tablets. You can use it on any device with a modern web browser -- no app download required.

No account or registration is needed. Simply open the Student Loan Calculator in your browser and start using it immediately. There are no sign-up walls or usage restrictions.

The Student Loan Calculator uses industry-standard formulas and algorithms to ensure accurate results. However, for critical financial or medical decisions, always consult a qualified professional.

Simply enter your input in the provided field, adjust any settings to your preference, and the tool will process it instantly. You can then copy the result to your clipboard or download it.

The Student Loan Calculator works in all modern browsers including Chrome, Firefox, Safari, Edge, and Opera. For the best experience, use the latest version of your preferred browser.

On a subsidized federal loan, the government pays the interest while you're in school and during the six-month grace period after you leave, so your balance doesn't grow before repayment starts. On an unsubsidized loan, interest accrues the whole time, including the grace period, and is then capitalized — added to your principal — so you pay interest on a larger balance for the life of the loan. That single difference can add a thousand dollars or more before you ever make a payment. In this calculator, leave the Unsubsidized box unchecked for a subsidized loan, where the principal stays put, or check it to see the grace-period interest get capitalized into an adjusted starting balance. Enter your figures to compare both scenarios side by side.

Total interest depends on three things: your principal, your annual rate, and how many years you take to repay. Because amortized interest is front-loaded, the longer the term the more you pay overall, even at the same rate. A common example is a 10-year loan at a moderate rate, where lifetime interest can equal a third to a half of the amount you originally borrowed once every monthly payment is counted. A shorter term raises the monthly payment but slashes total interest, while a longer term lowers the payment but costs far more in the end. This tool breaks out your total interest, total amount repaid, and exact payoff time, plus a year-by-year schedule, so you can see the full cost. Enter your principal, rate, and term to see the real number.

Every dollar you pay above the required monthly amount goes straight to principal, which shrinks the balance that future interest is charged on. Since amortized interest is front-loaded — early payments are mostly interest — extra payments made sooner have an outsized effect, knocking months off the term and cutting total interest. Federal student loans carry no prepayment penalty, so paying ahead never costs you anything beyond the extra cash. Even a modest amount like $50 a month on a typical balance can save thousands in interest and shorten repayment meaningfully. Switch to the With Extra Payment tab, type any surplus amount, and the calculator reports two figures most plans hide: total interest saved and time saved. Try a few amounts to find a payoff strategy that fits your budget.

If you have an unsubsidized loan, paying even small amounts during school or the grace period stops interest from capitalizing — being added to your principal — which is where unsubsidized debt quietly gets more expensive. Once interest capitalizes, you start paying interest on top of interest, so your monthly payment and lifetime cost both rise. Covering just the accruing interest before repayment begins keeps your balance flat and your starting principal lower. For subsidized loans this matters less, since the government handles grace-period interest for you. To see the impact, check the Unsubsidized box with your grace period set, and the calculator shows how much your balance grows from capitalization versus a subsidized loan where it doesn't. Use it to decide whether in-school payments are worth it for your situation.

Fixed monthly payments come from the standard amortization formula M = P x r x (1 + r)^n / ((1 + r)^n − 1), where P is the principal, r is the monthly interest rate (your annual rate divided by 12), and n is the total number of months. The payment is set so the loan is fully retired by the end of the term, with each installment split between interest and principal. Early on, most of the payment covers interest because the balance is largest; over time, more goes to principal as the balance falls. This calculator runs that formula automatically and also builds a month-by-month and year-by-year amortization table showing exactly how each payment divides. Enter your loan details to see your payment and download the full schedule as a CSV.