Student Loan Calculator
Free student loan calculator with standard, graduated, and income-driven repayment plans. See total cost and forgiveness timelines. No loan serviser bias.
Monthly Payment
$0
Total Interest
$0
Total Paid
$0
Payoff Date
—
$
$5K$200K
%
1%12%
$
$0$1,000
Repayment Timeline
Formula Used
Standard 10-Year Payment:
M = P × [r(1+r)^120] / [(1+r)^120 - 1]
Income-Driven (IBR):
M = 15% × (AGI - 150% × FPL) / 12
Where:
P = Total loan balance
r = Monthly interest rate
AGI = Adjusted Gross Income
FPL = Federal Poverty Level for your state/household
How This Student Loan Calculator Works
Compare federal student loan repayment plans side by side to find the best strategy for your situation.
Repayment Plans Compared
- Standard (10 years): Fixed monthly payments, lowest total interest, fastest payoff
- Graduated: Payments start low and increase every 2 years — good if you expect income growth
- Extended (25 years): Lower monthly payments but significantly more interest over time
Should You Refinance?
Refinancing can lower your rate, but you lose federal protections (IDR plans, PSLF, forbearance). Only refinance private loans or federal loans you won't need flexibility on.
Frequently Asked Questions
Should I refinance my student loans?
Refinancing can lower your rate and monthly payment, but you lose federal protections (IDR plans, forgiveness, forbearance). Only refinance private loans or federal loans you're confident you won't need flexiblity on.
What is Public Service Loan Forgiveness (PSLF)?
After 120 qualifying payments (10 years) while working for a qualifying employer (government or non-profit), remaining federal loan balances are forgiven tax-free.