Free Student Loan Calculator
Calculate the monthly payment and total interest on a student loan given its balance, rate and repayment term. Free. No signup required.
- Principal$30,000.00 · 73%
- Total Interest$10,877.27 · 27%
For every dollar borrowed, you pay back $1.36 — interest adds 36% on top.
- Total Interest$10,877.27
- Total Paid$40,877.27
About the Free Student Loan Calculator
A student loan is a standard fixed-rate installment loan under the hood, but it carries a few quirks that make a plain payment estimate easy to get wrong — interest can start accruing while you're still in school on unsubsidized loans, and the balance you actually begin repaying is often larger than what you originally borrowed once that accrued interest capitalizes.
This calculator computes the monthly payment and total interest on a student loan balance the same way it would for any amortizing loan, which is the right starting point once you know your actual balance at the start of repayment — whether that's your original borrowed amount or a larger, interest-inflated figure.
It's built for graduates or current students mapping out what repayment will actually look like, and for anyone comparing repayment term lengths before committing to one.
Your loan balance and rate stay on your device — none of it is sent anywhere or logged.
Frequently asked questions
Does this calculator account for interest that accrues while I'm still in school?
No — enter your balance as of when repayment actually begins. Unsubsidized federal loans and most private loans accrue interest during school, and if that interest capitalizes (gets added to principal) before repayment starts, your real starting balance will be higher than what you originally borrowed.
What's the difference between this and the loan repayment calculator?
This one shows the standard fixed-payment amortization for a single term you choose. The repayment calculator compares that standard plan against an income-based plan, useful if you're deciding between the two rather than just sizing the standard payment.
Does a longer repayment term always mean paying more interest?
Generally yes, for a fixed rate — a longer term lowers the monthly payment but keeps the balance outstanding, and accruing interest, for more months, which usually increases total interest paid over the life of the loan.
Should I use my loan's stated interest rate or its capitalized-balance-adjusted rate?
Use the actual rate on your promissory note or servicer statement — that's the rate applied to your outstanding balance going forward, regardless of how that balance got to its current size.
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