Student Loan Calculator
Compare Standard (10yr), Extended (25yr), and Graduated repayment plans for any student loan balance. Shows monthly payment, total interest paid, and full amortization for each plan.
You might also need
How It Works
Enter loan balance and interest rate. Select Standard tab. PMT = P×r(1+r)^120/[(1+r)^120−1]. Full 120-payment amortization table shows each payment split between principal and interest. Best choice when budget allows — minimizes lifetime interest cost.
PMT = P×r(1+r)^n/[(1+r)^n−1] where n=120$30k at 6.5%: $340/mo, $10,800 total interest, paid off year 10The extended plan stretches to 300 months. Monthly payment drops 40% vs standard but total interest nearly triples. $30,000 at 6.5%: $202/month saves $138/month vs standard but costs $19,800 more in interest. Only choose extended if the payment difference is essential for basic budget.
Extended: n=300 | interest ≈ 3× standard$30k at 6.5%: $202/mo, $30,600 interest (vs $10,800 standard)Graduated plan starts with lower payments that rise every 2 years, completing in the same 10-year timeframe as standard. Early payments often barely cover interest. Total interest falls between standard and extended. Show comparisons tab to see all three plans side-by-side.
Graduated: 5 payment steps over 10yr, starting lower than standard$30k, 6.5%: starts $171/mo → rises to $512/mo over 5 stepsEnter extra monthly payment amount. Calculator reruns amortization including extra payments, showing total interest saved and new payoff date. On standard plan with $100 extra/month: $2,200 saved and 2 years early payoff. Most effective on highest-rate loan in a multi-loan portfolio.
Extra payment reduces principal directly → less future interest$30k at 6.5%, +$100/mo: save $2,200, pay off 2yr earlyThe comparison view shows Standard, Extended, and Graduated side-by-side: monthly payment, total paid, total interest. Key insight: Extended costs nearly $20,000 more than Standard on $30,000. Graduated saves vs Extended but costs vs Standard. If you can afford Standard, always choose it.
Standard wins on cost | Extended wins on monthly paymentStandard=$340/$10.8k vs Extended=$202/$30.6k vs Graduated=$171-512/$13.5kQuick Reference
Verify these in the calculator above.
Standard
$30k at 6.5%, standard 10yr
$340/mo, $10,800 interest
Extended
$30k at 6.5%, extended 25yr
$202/mo, $30,600 interest
Comparison
Standard vs extended cost diff.
$19,800 more (extended)
Graduated
Graduated start payment, $30k
~$171/month
Extra pmt
Extra $100/mo on $30k, 6.5%
Save $2,200, 2yr early
PSLF
PSLF requirement
10yr + 120 qualifying pmts
IDR
IDR threshold (debt/income)
Over 1.5-2× annual salary
Rate
Federal avg grad rate 2024
7.05%
Tips & Shortcuts
Enter your actual loan balance and rate from studentaid.gov — the calculator needs your current balance, not the original loan amount, for accurate results.
Run the comparison for each loan separately if you have multiple loans with different balances and rates — then total the payments to see your complete picture.
Subsidized loans do not accrue interest during the 6-month post-graduation grace period. Unsubsidized loans accrue from disbursement — consider making interest-only payments while in school.
If on an income-driven plan, recertify income annually — failing to recertify may cause payment amounts to jump back to the standard amount.
Extra payments labeled "apply to principal" on your servicer portal go directly to balance reduction. Verify the application — some servicers credit extra payments to future months instead.
Common Mistakes
$30k is not standard
$30k at 6.5% means choosing Extended. Note that Extended requires $30k+ balance on Direct Loans. Verify your loan type before selecting this plan.
Ignoring income-driven plans if debt is high relative to income
If student loan debt exceeds 1.5-2× annual salary, income-driven plans with forgiveness may save significant money. This calculator covers fixed plans — evaluate IDR separately at studentaid.gov.
Making minimum payments on graduated when income allows more
Graduated plan is designed for income growth. If income grows faster than expected, increase payments toward the standard amount or above — you will save on total interest.
Not applying extra payments to highest-rate loan first
With multiple loans, extra payments on the highest-rate loan save the most (avalanche method). The calculator handles one loan at a time — for multi-loan optimization, run each separately.
Refinancing to private loans without understanding the tradeoffs
Private refinancing permanently eliminates access to IBR, PSLF, and forbearance options. Calculate interest savings carefully and only proceed if the benefits clearly outweigh the lost federal protections.
Frequently Asked Questions
Monthly payment = Loan × r(1+r)^120/[(1+r)^120−1]. For $30,000 at 6.5%: $340/month, $10,800 total interest over 120 payments. The standard plan minimizes total interest among all fixed plans.
Extended repayment spreads payments over 25 years (300 months). For $30,000 at 6.5%: $202/month but $30,600 total interest — nearly 3x the standard plan. Monthly payment is 40% lower but you pay for 15 extra years. Available on Direct Loan balances above $30,000.
Graduated repayment starts low and increases every 2 years, finishing in 10 years. Early payments cover mostly interest. Total interest falls between standard and extended. Designed for borrowers who expect salary growth. $30,000 at 6.5%: starts ~$171/month, rises to ~$512/month, total interest ~$13,500.
Extra payments go directly to principal. On $30,000 at 6.5%, standard 10yr: $100 extra/month saves about $2,200 interest and pays off 2 years early. Apply extra to the highest-rate loan first (avalanche method) across multiple loans.
Standard minimizes total interest. Income-driven (IBR, SAVE, PAYE) caps payments at 10-20% of discretionary income with forgiveness after 20-25 years. If debt-to-income ratio is below 1.5x annual salary, standard usually wins. Above 2x, income-driven with forgiveness may save more.
PSLF forgives remaining federal loan balance after 10 years (120 payments) working full-time for a qualifying employer (government, non-profit) on an income-driven plan. The forgiven amount is not taxable for PSLF. Most valuable for high-debt borrowers in public service.
Refinancing to a lower private rate saves interest but permanently loses federal benefits: income-driven repayment, deferment, PSLF. Only refinance if: stable income, no plans for PSLF, and rate drops at least 1%. Compare plans in the calculator first.
Related Calculators
Auto Loan Calculator
Calculate car loan payment, total cost, and interest.
Payment Calculator
Find monthly payment for any loan amount and term.
Random Number Generator
Generate random integers within any range.
Number Sequence Calculator
Find the nth term of arithmetic or geometric sequences.
Amortization Calculator
Full amortization schedule showing principal vs interest each month.
Mortgage Payoff Calculator
See how extra payments shorten your loan and save interest.