Student Loan Payment Calculator
Calculate your monthly student loan payments with our comprehensive calculator. Determine repayment amounts based on loan balance, interest rate, repayment term, and loan type.
Step 1: Loan Details
Understanding Student Loan Repayment
Most student loans have fixed interest rates and standard repayment terms of 10-25 years. Federal loans often offer income-driven repayment plans that adjust payments based on your income.
Step 2: Repayment Options
About Interest Rates
Interest rates vary by loan type and when the loan was taken out. Federal loan rates are set by Congress each year, while private loan rates depend on your credit score and market conditions.
Repayment Calculation Results
Estimated Monthly Payment
Repayment Plan Comparison
| Repayment Plan | Term | Monthly Payment | Total Interest |
|---|
Amortization Schedule (First 12 Months)
| Month | Payment | Principal | Interest | Balance |
|---|
Loan Payment Formula
Monthly Payment = P × [r(1+r)^n] / [(1+r)^n – 1]
Where P = loan principal, r = monthly interest rate (annual rate ÷ 12), n = total number of payments (years × 12).
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