Student Loan Calculator
Estimate student-loan payments, total interest, payoff timing, or an affordable loan amount.
Instructions
Choose payment mode to calculate a payment, or affordable-payment mode to estimate a maximum loan. Fixed interest rates only. Results update automatically.
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How Student Loan Repayment Is Estimated
For a fixed-rate loan, the calculator converts the annual rate to a monthly rate and uses the standard amortization formula over the selected number of payments. A zero-interest loan is divided evenly to avoid division by zero. Affordable-payment mode reverses that formula to estimate principal.
When selected, interest before repayment uses simple monthly accrual across the years in school and grace period. Capitalized interest is added to the repayment balance; otherwise it is displayed separately and added to total cost. A deducted origination fee reduces net proceeds without silently increasing principal.
Extra payments are modeled month by month. The last payment is limited to the exact amount due. Longer terms usually reduce the scheduled payment but increase total interest. Actual lender and program rules, variable rates, taxes, forgiveness, deferment, and repayment plans may differ; this fixed-rate estimate is not legal, tax, or individualized financial advice.
Student Loan Calculator FAQs
How is a student-loan payment calculated?
A fixed monthly payment amortizes the repayment balance over the selected term using the monthly interest rate.
Does interest accrue while the student is in school?
It can. Use the editable interest-accrual choice; this version uses simple monthly accrual before repayment.
What is interest capitalization?
It is adding accrued interest to principal when repayment begins, so later interest is charged on the larger balance.
What is a grace period?
It is the entered period between school and scheduled repayment; interest treatment depends on the loan.
How do origination fees affect the loan?
When fee deduction is selected, the fee reduces the amount received while the stated amount remains borrowed.
How much can extra payments save?
The schedule compares the standard plan with entered extras and reports estimated interest and time saved.
What happens at zero interest?
Principal is divided by the number of payments.
How is the affordable loan calculated?
The fixed-payment formula is reversed, then adjusted for selected capitalized pre-repayment interest.
Are variable rates supported?
No. The first version supports fixed rates only.
Are taxes or forgiveness included?
No. Tax effects, forgiveness, income-driven plans, and program-specific rules are not modeled.
Credits
Student Loan Calculator
Version: 1.0
Author: Calculator team