UseCalcPro
Home
Math
Percentages, fractions, ratios
Finance
Loans, mortgages, investments
Health
BMI, calories, fitness metrics
Construction
Materials for building projects
Auto
Car payments, fuel, insurance
Pets
Pet age, feeding, housing
Garden
Lawn care, irrigation, compost
Crafts
Yarn, fabric, candle making
Food & Brewing
Bread, dough, brewing, recipes
Tools
Age, date, GPA, converters
Blog
  1. Home
  2. Finance

Student Loan Calculator

Calculate student loan payments and payoff

Monthly Payment

$326

Total Interest

$9,069

Total Cost

$39,069

Payoff Date

August 2036

Loan Details

Enter your student loan information

$
%

Monthly Payment

$326

Total Interest

$9,069

Total Cost

$39,069

Payoff Date

August 2036

Frequently Asked Questions

Q

How much will my student loan payment be?

On standard 10-year repayment, expect ~$100-150/month per $10,000 borrowed at current rates. A $35,000 loan at 6% = $389/month for 10 years, $11,663 total interest. Longer terms = lower payments but more interest.

  • Standard repayment: 10 years fixed payments
  • Extended repayment: Up to 25 years (lower payment, more interest)
  • Income-driven: Payments based on income (10-25% of discretionary)
  • Graduated: Starts low, increases every 2 years
Loan Amount10-Year Payment20-Year PaymentTotal Interest (10yr)
$20,000$222$143$6,646
$35,000$389$251$11,630
$50,000$555$358$16,612
$80,000$888$573$26,579
Q

What are current federal student loan interest rates?

Federal student loan rates for 2024-2025: Undergraduate Direct: 6.53%, Graduate Direct: 8.08%, PLUS Loans: 9.08%. Rates are fixed for the life of the loan. Private loans vary: 4-14% depending on credit and lender.

  • Federal rates are set annually by Congress
  • Private rates vary by credit score and lender
  • Subsidized loans: Government pays interest while in school
  • Unsubsidized: Interest accrues from day 1
Loan Type2024-25 RateWho QualifiesInterest Accrues
Direct Subsidized6.53%Undergrad, financial needNo (while in school)
Direct Unsubsidized6.53%Undergrad, no need testYes (always)
Direct Unsubsidized (Grad)8.08%Graduate studentsYes
Direct PLUS9.08%Grad students, parentsYes
Q

Should I refinance my student loans?

Refinance if: 1) You can get a lower rate, 2) You have stable income, 3) You don't need federal protections (income-driven, forgiveness). Don't refinance federal loans if you may need forbearance, income-driven plans, or PSLF.

  • GOOD to refinance: High-rate private loans, stable income, good credit
  • BAD to refinance: Working toward PSLF, unstable income, need flexibility
  • Refinancing federal → private: Lose all federal protections
  • Check rates from: SoFi, Earnest, Laurel Road, Splash Financial
  • Refinance multiple times as credit improves
ScenarioRefinance?Why
Private at 9%, credit improvedYesCan likely get 5-7%
Federal, pursuing PSLFNoWould lose forgiveness eligibility
Federal 7%, high income, good creditMaybeLower rate but lose protections
Income unstable, federal loansNoNeed income-driven option
Q

What is Public Service Loan Forgiveness (PSLF)?

PSLF forgives remaining federal loan balance after 120 qualifying payments (10 years) while working full-time for qualifying employer (government, non-profit). Only Direct Loans qualify. Must be on income-driven repayment plan.

  • 120 payments = 10 years of payments
  • Must be full-time at qualifying employer
  • Only federal Direct Loans qualify
  • Must be on income-driven repayment (not standard)
  • Forgiven amount is tax-free
  • Submit employment certification annually

PSLF can forgive tens of thousands of dollars. A teacher with $80,000 in loans making income-driven payments of $300/month for 10 years pays $36,000 and has $44,000+ forgiven. Key: Certify employment annually and make sure you're on qualifying plan.

Q

What are income-driven repayment plans?

Income-driven plans cap payments at 10-20% of discretionary income with forgiveness after 20-25 years. Four plans: SAVE (newest, most generous), IBR, PAYE, ICR. Payments adjust annually with income. Great for low income or pursuing PSLF.

  • Discretionary income = AGI minus 150-225% of poverty line
  • Payments can be as low as $0 if income is very low
  • Interest may be forgiven/subsidized on SAVE plan
  • Forgiveness after 20-25 years is taxable (except PSLF)
  • Recertify income annually
PlanPayment % of IncomeForgivenessBest For
SAVE (2024)5-10%10-25 yearsMost borrowers, lowest payments
IBR10-15%20-25 yearsPre-2014 borrowers
PAYE10%20 yearsLow income, undergrad loans
ICR20%25 yearsParent PLUS after consolidation
Q

How much does interest add to my student loan?

Interest adds significantly over time. $30,000 at 6% for 10 years: $9,967 in interest (total $39,967). Same loan over 25 years: $27,877 interest (total $57,877). Longer terms = much more interest paid.

  • Interest accrues daily: (Balance × Rate) ÷ 365
  • Unsubsidized loans: Interest accrues while in school
  • Capitalization: Unpaid interest added to principal
  • Pay interest during school to avoid capitalization
  • Extra payments toward principal reduce total interest
$30,000 Loan at 6%Monthly PaymentTotal InterestTotal Paid
10-year standard$333$9,967$39,967
15-year extended$253$15,550$45,550
20-year extended$215$21,542$51,542
25-year extended$193$27,877$57,877

Example Calculations

1Undergraduate Federal Loan

Inputs

Loan Amount$30,000
Interest Rate4.99% (2024 rate)
Loan Term10 years

Result

Monthly Payment$318.42
Total Interest$8,210.40
Total Repaid$38,210.40

Federal student loans for undergraduates typically have fixed interest rates around 5%. Over 10 years, you will pay $318/month.

2Graduate Student Loan

Inputs

Loan Amount$75,000
Interest Rate6.54%
Loan Term15 years

Result

Monthly Payment$655.12
Total Interest$42,921.60
Total Repaid$117,921.60

Graduate loans have higher rates. Extending to 15 years lowers monthly payment but increases total interest paid.

Formulas Used

Monthly Payment Formula

M = P × [r(1+r)^n] / [(1+r)^n - 1]

Standard amortizing loan payment formula

Where:

M= Monthly payment
P= Principal loan amount
r= Monthly interest rate (annual rate ÷ 12)
n= Total number of monthly payments

Understanding Student Loans

Student loans help finance education but require careful repayment planning.

Federal loans offer flexible repayment options and potential forgiveness programs.

Making extra payments can significantly reduce total interest paid over time.

Student Loan Resources

  • Loan Calculator

    Calculate payments for any type of loan

  • Debt Payoff Calculator

    Create a strategy to pay off multiple debts

  • Personal Loan Calculator

    Compare personal loan options

Related Calculators

Loan Calculator

General loan calculator

Debt Payoff Calculator

Plan debt repayment

More Finance Calculators

Plan your finances

View All

Last Updated: Feb 12, 2026

This calculator is provided for informational and educational purposes only. Results are estimates and should not be considered professional financial, medical, legal, or other advice. Always consult a qualified professional before making important decisions. UseCalcPro is not responsible for any actions taken based on calculator results.

UseCalcPro
FinanceHealthMath

© 2026 UseCalcPro