Student Loan Calculator
Enter your balance, interest rate and repayment term to see the monthly payment, the date you'd finish, and how much of the total is interest rather than the amount you borrowed.
Method and copy last reviewed · How our calculations work
Your student loan
Everything runs in your browser. Nothing you type is sent anywhere.
Use the weighted average if you have several loans
Applied to principal every month
What this balance costs to clear
Monthly payment
$340.64
Standard fixed payment over 10 yr
- Total interest
- $10,877.41
- Total cost
- $40,877.41
- Payoff date
- Nov 2036
- Interest share
- 26.6%
of everything you repay
Repayment schedule
121 payments · final payment Nov 2036
| Year | Paid | Interest | Principal | Balance |
|---|---|---|---|---|
| 2026 | $681.28 | $324.04 | $357.24 | $29,642.76 |
| 2027 | $4,087.68 | $1,861.21 | $2,226.47 | $27,416.29 |
| 2028 | $4,087.68 | $1,712.11 | $2,375.57 | $25,040.72 |
| 2029 | $4,087.68 | $1,553.02 | $2,534.66 | $22,506.06 |
| 2030 | $4,087.68 | $1,383.27 | $2,704.41 | $19,801.65 |
| 2031 | $4,087.68 | $1,202.13 | $2,885.55 | $16,916.10 |
| 2032 | $4,087.68 | $1,008.89 | $3,078.79 | $13,837.31 |
| 2033 | $4,087.68 | $802.71 | $3,284.97 | $10,552.34 |
| 2034 | $4,087.68 | $582.71 | $3,504.97 | $7,047.37 |
| 2035 | $4,087.68 | $347.97 | $3,739.71 | $3,307.66 |
| 2036 | $3,407.01 | $99.35 | $3,307.66 | $0.00 |
Ask Fetch
Ask about your numbers
Fetch explains your results in plain English. Every number comes from re-running the calculator above, so the figures are exact — never generated.
How this calculator works
A standard repayment plan is an ordinary amortized loan. Interest is charged monthly on the balance still outstanding, so the payment starts interest-heavy and becomes principal-heavy as the balance falls.
The payment comes from the amortization formula P = B · r / (1 − (1 + r)⁻ⁿ), where B is your balance, r is the monthly rate (annual rate ÷ 12) and n is the number of months. At a 0% rate the payment is simply the balance divided by the number of months.
A worked example
A $30,000 balance at 6.5% over 10 years works out to roughly $340 a month. Over 120 months that's about $40,800 repaid — around $10,800 of it interest, or roughly a quarter of every dollar you send.
Add $100 a month and the same balance clears about two years early, cutting several thousand dollars of interest, because each extra dollar removes all the future interest that dollar would have carried.
Key things to keep in mind
Federal income-driven plans, subsidies, deferment and forgiveness are not modelled here — this is a fixed-rate, fixed-term picture. Variable-rate private loans will drift from these figures as rates move.
Before overpaying, check that your servicer applies extra amounts to principal rather than holding them as an advance payment; the instruction usually has to be given explicitly.
Frequently asked questions
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FetchCalc is an independent calculator and educational service. We are not a lender, broker, or financial adviser, and nothing here is financial advice. Estimates are for planning only; your actual offer and payment will come from your lender.