TopToolAIStudent Loan Repayment Calculator
Estimate your monthly student loan payment and total interest paid over the life of the loan, based on the balance, interest rate, and repayment term. A $30,000 loan at 5% interest over a 10-year term works out to a monthly payment of roughly $318, with total interest paid over the life of the loan coming to about $8,200 on top of the original balance.
How to use Student Loan Repayment Calculator
Step-by-step guide to the boxes below. Open it only if you need help.
How to use Student Loan Repayment Calculator
Step-by-step guide to the boxes below. Open it only if you need help.
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1
Loan balance Number
The amount you still owe.
Example: 20000
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2
Interest rate % (annual) Number
The yearly interest rate on the loan.
Example: 6
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3
Monthly payment Number
What you pay, or plan to pay, each month.
Example: 250
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4
Press “Calculate”
Click the button under the boxes. If something is missing or not valid, a short message tells you which box to fix.
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5
Read your result
You see how long repayment takes and how much interest you pay in total. Change any box and try again to compare different numbers.
Student Loan Repayment Calculator FAQs
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