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Student Loan Calculator

See how long it takes to clear your student loans, what they cost in interest, and how much faster you finish by paying a little extra each month.

Loan details

Everything updates instantly and stays in your browser.

%
months
Common terms
$0

Your payment

Monthly payment

$333.06

over 10 years · $30,000 financed

Total interest

$9,967

Total paid

$39,967

Payoff time

10 years

Year-by-year principal, interest, and remaining balance.
YearPrincipalInterestBalance
1$2,258$1,739$27,742
2$2,397$1,599$25,344
3$2,545$1,451$22,799
4$2,702$1,294$20,097
5$2,869$1,128$17,228
6$3,046$951$14,182
7$3,234$763$10,948
8$3,433$563$7,515
9$3,645$352$3,870
10$3,870$127$0

Estimates for a fixed-rate, fully-amortizing loan. Your actual rate, fees, and terms depend on the lender and your credit.

See what your student loans really cost

Enter your balance, rate, and repayment term to see the monthly payment and the total interest you'll pay. On a 10-year standard plan the interest is manageable; stretch repayment to 20 or 25 years and it can nearly double, even though the monthly payment feels easier.

The power of paying a little extra

Because student loan interest accrues daily on the principal, every extra dollar shortens the payoff and cuts interest. On a $30,000 balance at 6%, an extra $100 a month can shave years off the term and save thousands. Drag the extra-payment slider to find your number.

Fit repayment into the bigger picture

Balancing loan payoff with saving and investing? See how much of your pay should go to debt, and once you have a cushion, put the rest to work with the compound interest calculator. To attack multiple debts at once, use the main debt payoff calculator.

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Frequently asked questions

What is the standard student loan repayment term?
The federal Standard Repayment Plan is 10 years (120 months). Extended and income-driven plans stretch payments over 20–25 years, which lowers the monthly amount but greatly increases total interest.
Should I pay extra on student loans?
If the interest rate is higher than what you’d earn saving or investing, extra payments are a guaranteed return. On federal loans, confirm extra payments are applied to principal, not just advanced to your next due date. Use the slider above to see the savings.
Does this handle federal and private loans?
Yes — enter any fixed rate and term. For variable-rate private loans, the projection uses the rate as if it were fixed, so treat it as an estimate.
What about forgiveness or income-driven plans?
This calculator models standard fixed repayment. Income-driven and forgiveness programs follow separate rules and formulas, so use it as a baseline for what full repayment looks like.