Estimate monthly student loan payments, total interest, and payoff time.
Monthly payment M = P × [r(1+r)^n] / [(1+r)^n − 1] for principal P, monthly rate r, and term n months.
A $35,000 student loan at 6.8% on a 10-year term costs about $403/month.
Standard plans use a fixed term, while income-driven plans tie payments to income and may extend the term. This calculator models a standard fixed-term plan.
No. Forgiveness programs like PSLF can erase remaining balances after qualifying payments, which this tool does not model.
Extra payments reduce principal and total interest. Compare the loan rate to potential investment returns to decide.
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