Free Student Loan Repayment Calculator - Plan Your Payoff
Calculate your monthly student loan payments and total interest with detailed amortization.
Formula & Methodology
- PMT = (P × r) / (1 - (1 + r)^-n)
Worked Example
Using the Student Loan Repayment Calculator: apply the formula above to your input values. For instance, PMT = (P × r) / (1 - (1 + r)^-n). The tool performs each step instantly and shows the result.
Frequently Asked Questions
What repayment plans are available for student loans?
Options often include standard, graduated and income-driven plans, each trading off monthly payment size against total interest.
What is an income-driven repayment plan?
It caps payments at a percentage of your discretionary income, lowering monthly cost but often extending the term.
Does a longer term cost more?
Yes. Stretching payments lowers each month’s bill but adds interest over the life of the loan.