Student Loan Repayment Calculator

Federal student loans have fixed rates (5.5–8% for 2024). Private loans vary by lender. Always max federal loans before considering private.

A 10-year standard plan vs 20-year extended plan on $50,000 at 6.5%: standard pays $567/month; extended $373/month — but costs $30K more in interest.

Even small extra payments help enormously on student loans. Paying $100 extra/month on a $40K loan at 6% cuts 3 years and $4,500 from the total.

If you're on an income-driven plan, use the standard repayment calculation as a benchmark to understand how much interest capitalises each year.