Student Loan Repayment Calculator

Student Loan Repayment Calculator

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Enter the loan amount you are considering taking for an upcoming school year.


For a loan just entering repayment, the loan amount is the original principal loan amount and any capitalized and accrued interest, and all applicable fees.


Your loan may be a federal or private education loan.

Enter your estimated interest rate.


Please note that the calculator does not adjust for variable rates which may increase or decrease your monthly payment when the rate changes.


Current fixed interest rate for undergraduate Federal Direct Student Loans: 6.53%


The above rate for federal loans is for loans first disbursed on or after 7/1/2024 and before 7/1/2025. Loans taken out at a different time are likely to have a different rate.


Some loans, including private loans, may have variable rates (or a choice of fixed and variable rates) that change with a common index rate. Estimates are fine for this calculator.

The standard loan term to repay many student loans is ten years. There is usually no penalty to pay the loan off earlier. In addition, some repayment plans have longer terms for paying back your loan.
10 Years

On subsidized federal student loans, the federal government pays the interest while the student is in school. On most other loans, interest will accrue while the student is in school.


Generally, students may defer paying the interest until after graduation plus a six-month grace period or they may pay the interest while in school and during the grace period. The calculator can show how much money you can save by paying interest while in school versus deferring interest payments.
4 Years

Your Results

Complete the following steps to view your results:

  • Input Loan Amount

  • Input Interest Rate

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