Student loan repayment calculator
Monthly payment, total interest and payoff time for a student loan, including interest that builds up during the grace period and the effect of paying extra.
Input
How to use this tool
- Enter your values or choose a local file. Replace the example data with your own.
- Review options, units and assumptions, then run the tool.
- Check the result before copying or downloading it. Keep an original copy of important files.
Method & assumptions
Monthly payment, total interest and payoff time for a student loan, including interest that builds up during the grace period and the effect of paying extra.
payment = B × r ÷ (1 − (1 + r)^−n); grace interest = P × r × monthsWorked example
Loan balance: 30,000 Interest rate (APR %): 5.5 Repayment term (years): 10 Months until repayment starts: 6 Interest before repayment: Builds up and is added to the balance Extra payment per month: 0 → Balance when repayment starts: 30,825 → Monthly payment: 334.53 → Total interest: 10,143.87 → Total paid: 40,143.87 → Time to pay off: 10 years → Interest added during the grace period: 825
Limits & important notes
Basic release. Review the result before relying on it. File limits, supported cases and processing requirements are shown above.
Content updated:
Privacy & Free to use
Are my inputs stored?
Your inputs stay in this tab. We do not receive your files, pasted text or calculation values.
Is this tool free?
Yes. No signup or payment is required.
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