Student Loan Calculator — What Will Your Monthly Payment Be?

Federal student loan interest rates for 2025-2026 are set annually: 6.53% for undergraduate direct subsidized/unsubsidized loans, 8.08% for graduate unsubsidized loans, and 9.08% for PLUS loans. Private student loan rates vary from 4-16% depending on the lender and your credit profile. The free loan calculator calculates monthly payments for any of these scenarios — enter the loan balance, interest rate, and term.

Student loans are calculated identically to any other amortizing loan. The federal standard repayment plan is 10 years (120 monthly payments). Income-driven repayment plans extend to 20-25 years. The calculator shows you exactly how the term choice affects monthly payment and total interest — and the difference is often startling.

Federal vs Private Student Loans — How They Differ in Calculation

Federal student loans: Fixed interest rates set annually by Congress. Rates for 2025-2026:

• Undergraduate Direct Subsidized/Unsubsidized: 6.53%
• Graduate Direct Unsubsidized: 8.08%
• PLUS Loans (parent and graduate): 9.08%

Federal loans have income-driven repayment (IDR) plan options (SAVE, IBR, PAYE, ICR) that cap payments at 5-20% of discretionary income and provide forgiveness after 10-25 years. These plans have different payment calculations than the standard amortizing formula — they are not modeled by our calculator, which uses the standard fixed-payment formula.

Private student loans: Variable or fixed rates from private lenders (SoFi, Earnest, College Ave, Sallie Mae, banks). Rates in 2026 range from approximately 4-8% fixed and 5-16% variable for qualified borrowers. Private loans do not have income-driven repayment options or federal forgiveness programs — they behave like standard installment loans.

For either type, use the free loan calculator to calculate the standard repayment plan payment: enter the total loan balance, the weighted average interest rate (if you have multiple loans at different rates), and 10 years (or 120 months) for the standard federal repayment term.

Monthly Student Loan Payment by Balance — Standard 10-Year Plan

Monthly payments on the standard 10-year federal repayment plan at 6.53%:

Loan Balance	Monthly Payment (10-yr)	Total Interest	Total Cost
$10,000	$113	$3,577	$13,577
$20,000	$226	$7,153	$27,153
$30,000	$339	$10,730	$40,730
$50,000	$566	$17,884	$67,884
$75,000	$848	$26,825	$101,825
$100,000	$1,130	$35,767	$135,767
$150,000	$1,696	$53,651	$203,651

Enter your specific balance and your actual interest rate(s) into the free loan calculator for exact results. If you have multiple federal loans at different rates, calculate each separately or use a weighted average rate.

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Standard 10-Year Repayment vs Extended Plans — Total Cost Comparison

The federal government offers extended repayment plans (25 years) for borrowers with over $30,000 in federal loans, and income-driven plans that can extend to 20-25 years. Here is what the extended term costs on a $50,000 loan at 6.53%:

Repayment Plan	Term	Monthly Payment	Total Interest	Total Cost
Standard	10 years	$566	$17,884	$67,884
Extended Fixed	25 years	$338	$51,386	$101,386
Extended Graduated	25 years	$230 → $676	$68,000+	$118,000+

The 25-year plan reduces monthly payment by $228/month but adds $33,502 in total interest — a significant tradeoff. The standard 10-year plan costs substantially less in total but has a higher monthly payment that may not fit the budget of a recent graduate.

Use the free loan calculator to model your exact situation: try 120 months (10 years) vs 180 months (15 years) vs 300 months (25 years) with your actual balance and rate to see exactly how much each plan costs total. The amortization schedule ("Show Full Schedule") shows the remaining balance at any point in time.

How Extra Student Loan Payments Reduce Your Total Interest

Our loan calculator does not have an extra payment field, but you can model extra payments manually. If you pay $100/month extra on a $40,000 loan at 6.53% (10-year term), you reduce the loan term from 120 to approximately 94 months and save roughly $2,700 in interest.

To model this in the free loan calculator:

1. Calculate your current monthly payment (e.g., 120 months, $453/month for $40,000 at 6.53%)
2. Add your extra payment to the monthly amount ($453 + $100 = $553)
3. Find what term produces a $553/month payment: try 96 months — the resulting payment should be close to $553
4. Compare the total interest at 96 months vs 120 months

The debt payoff calculator has an explicit extra payment feature that shows exact payoff date acceleration — see the extra payment calculator guide for how extra payments accelerate loan payoff.

Federal student loan extra payment strategy: Extra federal loan payments should be directed to the highest-rate loan (avalanche method) unless pursuing Public Service Loan Forgiveness (PSLF) — in that case, making extra payments reduces the balance that would be forgiven and may not be optimal. For non-PSLF situations, always pay the highest-rate loan off first.

Frequently Asked Questions

What is the monthly payment on $30,000 in student loans?

At 6.53% federal rate on a 10-year standard plan: approximately $339/month. At 8% (graduate rate) for 10 years: approximately $364/month. At 6.53% extended over 25 years: approximately $203/month with significantly higher total interest.

How much does it cost to repay $100,000 in student loans?

On the standard 10-year federal plan at 6.53%: $1,130/month and $35,767 in total interest ($135,767 total paid). On a 25-year extended plan at the same rate: $669/month but $100,750+ in total interest ($200,750+ total paid).

What is the difference between subsidized and unsubsidized student loans?

Both types have the same interest rate (6.53% for undergrad 2025-26). The difference: subsidized loans do not accrue interest while you are in school at least half-time, during grace periods, and during deferment. Unsubsidized loans accrue interest during these periods, which is added to your balance (called capitalization). The monthly payment calculation is the same once repayment begins.

Should I refinance my student loans to a lower rate?

Refinancing federal loans into a private loan permanently removes access to income-driven repayment plans, PSLF, and federal forbearance options. If you work for a nonprofit or government employer, do not refinance federal loans. If you have private loans or federal loans you definitely will not pursue IDR or PSLF for, refinancing to a lower private rate can save significant interest.