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Student Loan Calculator

A clearer path from your balance to your last payment. Estimate fixed-rate repayment, explore extra payments, and compare up to three loans.

Estimated monthly loan payment$340.64
See details ↓

Your loan details

Nominal interest rate, not APR.
60 months = 5 years.
Applied with each scheduled payment.
First payment is one month later, plus grace months.
Grace period & interest assumptions
A modeling choice, not a statement of federal loan rules. Grace interest uses simple monthly accrual.

U.S. dollars · Fixed rate · Monthly payments
Values stay in this tab. See formulas and assumptions.

Estimated monthly loan paymentLIVE ESTIMATE
$340.64

Scheduled principal and interest. Extra payments shown separately.

Total loan interest incl. grace$10,877.41
Total repayment$40,877.41
Estimated payoffNov 1, 2036
Payments to payoff120
Original principal / financed costsInterest incl. grace
Try an extra monthly payment to see potential interest and time savings.
Amount financed / repayment balance
$30,000.00
Grace-period interest
$0.00
Grace interest treatment
Added to repayment balance
First scheduled payment
Dec 1, 2026
Extra principal / month
$0.00
First planned loan payment
$340.64

Your path to paid off

Outstanding balance during repayment

Outstanding loan balance over timeStarts at $30,000.00. Without extra payments, paid off after 120 payments. With entered extra payments, paid off after 120 payments. Exact monthly balances are in the amortization table.$0$15K$30KFirst payment120 months
Solid green: your planDashed gray: no extra payments
Educational estimate using a fixed-rate monthly model. Not a lender quote. Verify actual fees, timing and contract terms. Source: https://clear-loan-calculators.josephevrrsonisbeast.chatgpt.site/student-loan-calculator

Compare your options

Up to 3 scenarios · Kept only in this tab
Add your current estimate, change a few inputs, then add another. Compare up to three scenarios side by side.

Every payment, explained.

Your complete monthly amortization schedule

Full monthly amortization schedule in US dollars
PaymentDatePayment amountPrincipalInterestBalance
1Dec 1, 2026$340.64$178.14$162.50$29,821.86
2Jan 1, 2027$340.64$179.10$161.54$29,642.76
3Feb 1, 2027$340.64$180.08$160.56$29,462.68
4Mar 1, 2027$340.64$181.05$159.59$29,281.63
5Apr 1, 2027$340.64$182.03$158.61$29,099.60
6May 1, 2027$340.64$183.02$157.62$28,916.58
7Jun 1, 2027$340.64$184.01$156.63$28,732.57
8Jul 1, 2027$340.64$185.01$155.63$28,547.56
9Aug 1, 2027$340.64$186.01$154.63$28,361.55
10Sep 1, 2027$340.64$187.01$153.63$28,174.54
11Oct 1, 2027$340.64$188.03$152.61$27,986.51
12Nov 1, 2027$340.64$189.05$151.59$27,797.46
13Dec 1, 2027$340.64$190.07$150.57$27,607.39
14Jan 1, 2028$340.64$191.10$149.54$27,416.29
15Feb 1, 2028$340.64$192.14$148.50$27,224.15
16Mar 1, 2028$340.64$193.18$147.46$27,030.97
17Apr 1, 2028$340.64$194.22$146.42$26,836.75
18May 1, 2028$340.64$195.27$145.37$26,641.48
19Jun 1, 2028$340.64$196.33$144.31$26,445.15
20Jul 1, 2028$340.64$197.40$143.24$26,247.75
21Aug 1, 2028$340.64$198.46$142.18$26,049.29
22Sep 1, 2028$340.64$199.54$141.10$25,849.75
23Oct 1, 2028$340.64$200.62$140.02$25,649.13
24Nov 1, 2028$340.64$201.71$138.93$25,447.42
25Dec 1, 2028$340.64$202.80$137.84$25,244.62
26Jan 1, 2029$340.64$203.90$136.74$25,040.72
27Feb 1, 2029$340.64$205.00$135.64$24,835.72
28Mar 1, 2029$340.64$206.11$134.53$24,629.61
29Apr 1, 2029$340.64$207.23$133.41$24,422.38
30May 1, 2029$340.64$208.35$132.29$24,214.03
31Jun 1, 2029$340.64$209.48$131.16$24,004.55
32Jul 1, 2029$340.64$210.62$130.02$23,793.93
33Aug 1, 2029$340.64$211.76$128.88$23,582.17
34Sep 1, 2029$340.64$212.90$127.74$23,369.27
35Oct 1, 2029$340.64$214.06$126.58$23,155.21
36Nov 1, 2029$340.64$215.22$125.42$22,939.99
37Dec 1, 2029$340.64$216.38$124.26$22,723.61
38Jan 1, 2030$340.64$217.55$123.09$22,506.06
39Feb 1, 2030$340.64$218.73$121.91$22,287.33
40Mar 1, 2030$340.64$219.92$120.72$22,067.41
41Apr 1, 2030$340.64$221.11$119.53$21,846.30
42May 1, 2030$340.64$222.31$118.33$21,623.99
43Jun 1, 2030$340.64$223.51$117.13$21,400.48
44Jul 1, 2030$340.64$224.72$115.92$21,175.76
45Aug 1, 2030$340.64$225.94$114.70$20,949.82
46Sep 1, 2030$340.64$227.16$113.48$20,722.66
47Oct 1, 2030$340.64$228.39$112.25$20,494.27
48Nov 1, 2030$340.64$229.63$111.01$20,264.64
49Dec 1, 2030$340.64$230.87$109.77$20,033.77
50Jan 1, 2031$340.64$232.12$108.52$19,801.65
51Feb 1, 2031$340.64$233.38$107.26$19,568.27
52Mar 1, 2031$340.64$234.65$105.99$19,333.62
53Apr 1, 2031$340.64$235.92$104.72$19,097.70
54May 1, 2031$340.64$237.19$103.45$18,860.51
55Jun 1, 2031$340.64$238.48$102.16$18,622.03
56Jul 1, 2031$340.64$239.77$100.87$18,382.26
57Aug 1, 2031$340.64$241.07$99.57$18,141.19
58Sep 1, 2031$340.64$242.38$98.26$17,898.81
59Oct 1, 2031$340.64$243.69$96.95$17,655.12
60Nov 1, 2031$340.64$245.01$95.63$17,410.11
61Dec 1, 2031$340.64$246.34$94.30$17,163.77
62Jan 1, 2032$340.64$247.67$92.97$16,916.10
63Feb 1, 2032$340.64$249.01$91.63$16,667.09
64Mar 1, 2032$340.64$250.36$90.28$16,416.73
65Apr 1, 2032$340.64$251.72$88.92$16,165.01
66May 1, 2032$340.64$253.08$87.56$15,911.93
67Jun 1, 2032$340.64$254.45$86.19$15,657.48
68Jul 1, 2032$340.64$255.83$84.81$15,401.65
69Aug 1, 2032$340.64$257.21$83.43$15,144.44
70Sep 1, 2032$340.64$258.61$82.03$14,885.83
71Oct 1, 2032$340.64$260.01$80.63$14,625.82
72Nov 1, 2032$340.64$261.42$79.22$14,364.40
73Dec 1, 2032$340.64$262.83$77.81$14,101.57
74Jan 1, 2033$340.64$264.26$76.38$13,837.31
75Feb 1, 2033$340.64$265.69$74.95$13,571.62
76Mar 1, 2033$340.64$267.13$73.51$13,304.49
77Apr 1, 2033$340.64$268.57$72.07$13,035.92
78May 1, 2033$340.64$270.03$70.61$12,765.89
79Jun 1, 2033$340.64$271.49$69.15$12,494.40
80Jul 1, 2033$340.64$272.96$67.68$12,221.44
81Aug 1, 2033$340.64$274.44$66.20$11,947.00
82Sep 1, 2033$340.64$275.93$64.71$11,671.07
83Oct 1, 2033$340.64$277.42$63.22$11,393.65
84Nov 1, 2033$340.64$278.92$61.72$11,114.73
85Dec 1, 2033$340.64$280.44$60.20$10,834.29
86Jan 1, 2034$340.64$281.95$58.69$10,552.34
87Feb 1, 2034$340.64$283.48$57.16$10,268.86
88Mar 1, 2034$340.64$285.02$55.62$9,983.84
89Apr 1, 2034$340.64$286.56$54.08$9,697.28
90May 1, 2034$340.64$288.11$52.53$9,409.17
91Jun 1, 2034$340.64$289.67$50.97$9,119.50
92Jul 1, 2034$340.64$291.24$49.40$8,828.26
93Aug 1, 2034$340.64$292.82$47.82$8,535.44
94Sep 1, 2034$340.64$294.41$46.23$8,241.03
95Oct 1, 2034$340.64$296.00$44.64$7,945.03
96Nov 1, 2034$340.64$297.60$43.04$7,647.43
97Dec 1, 2034$340.64$299.22$41.42$7,348.21
98Jan 1, 2035$340.64$300.84$39.80$7,047.37
99Feb 1, 2035$340.64$302.47$38.17$6,744.90
100Mar 1, 2035$340.64$304.11$36.53$6,440.79
101Apr 1, 2035$340.64$305.75$34.89$6,135.04
102May 1, 2035$340.64$307.41$33.23$5,827.63
103Jun 1, 2035$340.64$309.07$31.57$5,518.56
104Jul 1, 2035$340.64$310.75$29.89$5,207.81
105Aug 1, 2035$340.64$312.43$28.21$4,895.38
106Sep 1, 2035$340.64$314.12$26.52$4,581.26
107Oct 1, 2035$340.64$315.82$24.82$4,265.44
108Nov 1, 2035$340.64$317.54$23.10$3,947.90
109Dec 1, 2035$340.64$319.26$21.38$3,628.64
110Jan 1, 2036$340.64$320.98$19.66$3,307.66
111Feb 1, 2036$340.64$322.72$17.92$2,984.94
112Mar 1, 2036$340.64$324.47$16.17$2,660.47
113Apr 1, 2036$340.64$326.23$14.41$2,334.24
114May 1, 2036$340.64$328.00$12.64$2,006.24
115Jun 1, 2036$340.64$329.77$10.87$1,676.47
116Jul 1, 2036$340.64$331.56$9.08$1,344.91
117Aug 1, 2036$340.64$333.36$7.28$1,011.55
118Sep 1, 2036$340.64$335.16$5.48$676.39
119Oct 1, 2036$340.64$336.98$3.66$339.41
120Nov 1, 2036$341.25$339.41$1.84$0.00

Loan payments include entered extra principal. Final payment is adjusted to clear the balance. Grace interest added to principal is repaid in the principal column; grace interest paid separately is outside this table. Read the calculation methodology.

Understand your student loan repayment

This student loan monthly payment calculator estimates a standard fixed-rate repayment schedule. Enter a balance and interest rate, then adjust the repayment term or extra payment. The result shows the scheduled payment, total interest, total repayment and estimated payoff date.

A worked example you can check

A $30,000 student loan at a fixed 6.5% annual rate over 120 months, with no grace period or fees, has an estimated monthly payment of $340.64. Total interest is $10,877.41, for total repayment of $40,877.41.

Paying an extra $100 each month reduces interest by $3,347.04 and shortens repayment by 34 months, under the same assumptions.

Hypothetical inputs, not a current rate offer. Monthly interest and payments rounded to cents; final payment adjusted. Numerical fixtures checked with a separate Python Decimal implementation. See test cases.

How much faster can extra payments pay off a student loan?

Extra principal lowers the balance that earns interest in future months. Keep the regular payment unchanged and apply the same additional amount each month to estimate an earlier payoff. This model assumes the servicer applies extra money to principal after current interest, without advancing future due dates or charging a prepayment fee.

What happens during a grace period?

A grace period delays the first modeled payment. Choose whether interest accrues and is added to principal, accrues and is paid separately at repayment start, or does not accrue. These are hypothetical settings. Actual treatment depends on your loan and its terms.

Grace interest here is original balance × annual interest percentage ÷ 1200 × grace months. For example, $30,000 × 6.5 ÷ 1200 × 6 months = $975. There is no compounding during grace. Capitalized interest then earns interest during repayment. Any grace interest paid separately is included in total repayment but is outside the monthly CSV schedule.

Compare loans without combining unlike terms

Add up to three individual loan scenarios, each with its own balance, rate and term. The comparison does not allocate a shared extra-payment budget across multiple loans or optimize a debt avalanche.

Federal repayment plans need a different model

Income-driven payments, deferment rules, forgiveness and eligibility are not calculated here. Use the Federal Student Aid Repayment Calculator for federal plan estimates. Federal student loan interest generally accrues daily; this monthly model can differ from your servicer’s statement.

Common questions

Is this an income-driven repayment calculator?

No. It models fixed-rate monthly amortization. Federal repayment-plan eligibility, income-driven payments and forgiveness require separate information and are not estimated.

Can I compare multiple student loans?

Yes. Add up to three scenarios with different balances, rates and terms. Each is a separate loan estimate; extra payments are not automatically allocated across loans.

Is grace interest always capitalized?

No. Capitalization is an optional scenario here, not a federal rule. Select the treatment in your actual agreement.

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Content and calculation model published October 26, 2026. Created with AI assistance; no professional financial review claimed. Financial disclaimer · Request a correction.