Student Loan Calculator
Find your payment, payoff time and how extra payments save interest.
Paying 100 extra each month clears the loan 2 yr 10 mo sooner and saves 2,753.32 in interest.
Free student loan calculator. Enter your balance, APR and term to get your monthly payment, payoff time and total interest, then add an extra monthly payment to see how much sooner you finish and how much interest you save. Runs in your browser.
How to use the Student Loan Calculator
- 01Enter your loan balance, APR and repayment term in years.
- 02Add an optional extra monthly payment.
- 03See your standard payment, actual payoff time, total interest and the interest the extra payment saves.
Frequently asked questions
How do extra payments help?
Every dollar above the scheduled payment goes straight to principal, which shrinks the balance interest is charged on. That shortens the payoff time and cuts total interest — the calculator shows both effects.
Is the standard payment fixed?
Yes. The monthly payment shown is the standard amortized amount for your balance, APR and term. The extra payment is added on top and is what accelerates the payoff.
Does this cover federal income-driven plans?
No. It models a standard fixed-rate amortized loan. Income-driven repayment, forgiveness and variable rates work differently and are not included.