Student Loan Calculator
Calculate your monthly student loan payment, total interest paid, and payoff time for federal or private loans.
Loan Details
Results
Monthly Payment
$512
Principal
$45,000
Total Interest
$16,398
Total Paid
$61,398
Federal vs private student loans
Federal loans (Direct Subsidized/Unsubsidized, PLUS) have fixed rates set by Congress and come with income-driven repayment options. Private loans are bank-issued, can have lower or higher rates depending on credit, and lack federal protections. Always max out federal before private.
Standard repayment vs IDR
Standard plan: fixed payment over 10 years. IDR plans (IBR, PAYE, SAVE) cap payment at 10-20% of discretionary income and forgive balance after 20-25 years (taxable). PSLF forgives after 10 years for public-service workers (tax-free).
Frequently Asked Questions
Everything you need to know, in one place.
What is a typical federal student loan rate?
2025-26 rates: Direct Subsidized/Unsubsidized undergrad loans at 6.53%, grad Direct Unsubsidized at 8.08%, Direct PLUS at 9.08%. Private loans vary 4%-16% based on credit.
Should I pay extra on student loans or invest?
Compare after-tax loan rate to expected investment return. If loan is under 6% with tax deduction, investing in a 401(k) match is almost always better first. High-rate private loans (>8%) often beat market returns.
What is PSLF?
Public Service Loan Forgiveness — after 10 years of qualifying payments while working for a government or eligible non-profit, remaining federal loan balance is forgiven tax-free.
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