Student Loan Calculator
Estimate the monthly payment and total cost of a student loan over its repayment period.
Loan Parameters
$
Monthly Payment
$341
- Total Interest
- $10,877
- Total Cost
- $40,877
- Payoff Year
- 2036
Term Comparison
3 yr
$919
$3,101 interest
4 yr
$711
$4,150 interest
5 yr
$587
$5,219 interest
6 yr
$504
$6,309 interest
7 yr
$445
$7,421 interest
Typical Student Loan Rates & Terms
- Typical APR
- 5%–8% for federal undergraduate loans, 6%–14% for private loans depending on credit and cosigner
- Typical Term
- 10 years standard, up to 25 years for income-driven or extended plans
Tips for Student Loans
- Federal loans usually have flexible repayment options (income-driven plans, deferment, forgiveness) that private loans do not — check before refinancing federal into private.
- Interest accrues during deferment on unsubsidized loans. The balance you start repaying may be larger than the amount you borrowed.
- Refinancing only makes sense if your new rate is meaningfully lower and you do not need the federal protections.
- Even small extra principal payments early in the loan dramatically reduce total interest.
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Frequently Asked Questions
- 5%–8% for federal undergraduate loans, 6%–14% for private loans depending on credit and cosigner. Your actual rate depends on your credit score, loan term, down payment, and the lender. Always shop at least three lenders before signing.