Calculate student loan payments for federal and private loans across all repayment plans. See your payoff date and total interest instantly.
This student loan calculator helps you compare federal repayment plans and estimate your monthly payment and total interest for both federal and private loans. Federal loans offer Standard (10-year), Graduated, Extended (25-year), and Income-Based plans. Federal loans may also qualify for forgiveness programs — this calculator estimates standard repayment only. All calculations run in your browser — your data never leaves your device.
The average monthly student loan payment is around $350–$400 for borrowers on standard 10-year repayment plans. However, this varies widely based on total debt, interest rate, and repayment plan. Use this student loan calculator to find your exact payment based on your balance and rate.
Federal student loans offer income-driven repayment plans, potential forgiveness programs, deferment, and forbearance options. They have fixed rates set by Congress. Private loans are issued by banks and credit unions with variable or fixed rates based on your credit. Private loans generally lack federal protections and repayment flexibility.
Income-driven repayment (IDR) plans cap your monthly payment at a percentage of your discretionary income (typically 5–20%). After 20–25 years of qualifying payments, any remaining balance may be forgiven. Common plans include IBR (Income-Based Repayment), PAYE, SAVE, and ICR. This calculator estimates the standard repayment amount.
Yes. Federal and private student loans generally have no prepayment penalty. Paying extra each month or making lump-sum payments reduces your principal faster, saving significant interest over the loan life. Even an extra $50–$100/month can save thousands and cut years off your repayment.
Federal loan borrowers can apply for deferment (temporary suspension of payments) or forbearance (reduced or paused payments) during financial hardship. Income-driven repayment can also lower payments to as little as $0/month for qualifying borrowers. Private loan options vary by lender — contact them directly about hardship programs.