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Student Loan Calculator

This Student Loan Payment Calculator computes an estimate of the size of your monthly loan payments. This loan calculator can be used with Federal education loans, and most private student loans.

This loan calculator assumes that the interest rate remains constant throughout the life of the loan. The Federal Stafford Loan has a fixed interest rate of 6.8% and the Federal PLUS loan has a fixed rate of 8.5%. (Perkins loans have a fixed interest rate of 5%.)

This loan calculator also assumes that the loan will be repaid in equal monthly installments through standard loan amortization (i.e., standard or extended loan repayment). The results will not be accurate for some of the alternate repayment plans, such as graduated repayment and income contingent repayment.

Loan fees are used to adjust the initial loan balance so that the borrower nets the same amount after the fees are deducted.

Some educational loans have a minimum monthly payment. Please enter the appropriate figure ($50 for Stafford Loans, $40 for Perkins Loans and $50 for PLUS Loans) in the minimum payment field. Enter a higher figure to see how much money you can save by paying off your debt faster.


DISCLAIMER: There is NO WARRANTY, express or implied, for the accuracy of this information
or its applicability to your financial situation.  Please consult your own financial advisor.



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