How to Use the Student Loan Calculator
Enter your student loan balance, interest rate, and repayment term — the calculator shows the fixed monthly payment and total interest paid over that term, and running it again with a different term lets you compare the payment-versus-total-cost trade-off directly.
The Student Loan Calculator uses the standard amortization formula — here's what to enter and how to compare repayment options.
Entering loan details
Enter the current balance, interest rate, and term to see the standard monthly payment — for multiple loans with different rates, running each separately (or using a weighted average rate across all loans) gives the most accurate combined picture.
Comparing repayment terms
Running the same balance and rate at a couple of different term lengths shows the direct trade-off between monthly payment and total interest, making it easier to weigh a standard term against a longer, income-driven-style timeline for the specific numbers involved.