Student Loan Calculator
Calculate monthly student loan payments and total interest. Compare standard vs extra payment plans.
Monthly Payment
$379.84
Total Interest
$10,581.04
Total Paid
$45,581.04
Payoff
10y 1m
Extra Payment Impact
Standard121 monthsInt: $10,581.04
+$50.00103 monthsInt: $8,909.29
+$100.0089 monthsInt: $7,700.56
+$150.0079 monthsInt: $6,785.14
+$200.0071 monthsInt: $6,067.15
+$300.0059 monthsInt: $5,012.53
+$500.0045 monthsInt: $3,729.18
Frequently Asked Questions
What is the standard student loan repayment plan?+
The Standard Repayment Plan has fixed payments over 10 years. For $35,000 at 5.5%, that's $380/month with $10,585 in total interest. Other federal plans include Graduated, Extended, and Income-Driven.
Should I make extra payments?+
If you can afford it, yes. Extra payments on a $35K loan at 5.5%: +$100/mo saves $2,648 in interest and pays off 3 years early. Always specify extra payments go to principal, not future payments.
What are current student loan rates?+
2024-25 federal rates: 5.50% (Direct Subsidized/Unsubsidized), 7.05% (Graduate), 8.05% (PLUS). Private loans vary widely: 4-14% depending on creditworthiness. Federal loans have more protections.