Student Loan Calculator

Student Loan Calculator to quickly calculate the monthly payments for your student loan. Get a student loan amortization schedule that has all the details about principle, interest, and payments.

Loan & Payment Summary
Loan Amount:	$65,000.00
Monthly Payment:	$699.00
Total # Of Payments:	120
Start Date:	Mar, 2023
Payoff Date:	Feb, 2033
Total Interest Paid:	$18,879.60
Total Payment:	$83,879.60

Payment Date	Payment #	Interest Paid	Principal Paid	Total Payment	Remaining Balance
Amortization Schedule
Mar, 2023	1	$287.08	$411.91	$699.00	$64,588.09
Apr, 2023	2	$285.26	$413.73	$699.00	$64,174.35
May, 2023	3	$283.44	$415.56	$699.00	$63,758.79
Jun, 2023	4	$281.60	$417.40	$699.00	$63,341.40
Jul, 2023	5	$279.76	$419.24	$699.00	$62,922.16
Aug, 2023	6	$277.91	$421.09	$699.00	$62,501.07
Sep, 2023	7	$276.05	$422.95	$699.00	$62,078.12
Oct, 2023	8	$274.18	$424.82	$699.00	$61,653.30
Nov, 2023	9	$272.30	$426.69	$699.00	$61,226.61
Dec, 2023	10	$270.42	$428.58	$699.00	$60,798.03
Jan, 2024	11	$268.52	$430.47	$699.00	$60,367.56
Feb, 2024	12	$266.62	$432.37	$699.00	$59,935.18
Mar, 2024	13	$264.71	$434.28	$699.00	$59,500.90
Apr, 2024	14	$262.80	$436.20	$699.00	$59,064.70
May, 2024	15	$260.87	$438.13	$699.00	$58,626.57
Jun, 2024	16	$258.93	$440.06	$699.00	$58,186.51
Jul, 2024	17	$256.99	$442.01	$699.00	$57,744.50
Aug, 2024	18	$255.04	$443.96	$699.00	$57,300.54
Sep, 2024	19	$253.08	$445.92	$699.00	$56,854.62
Oct, 2024	20	$251.11	$447.89	$699.00	$56,406.74
Nov, 2024	21	$249.13	$449.87	$699.00	$55,956.87
Dec, 2024	22	$247.14	$451.85	$699.00	$55,505.01
Jan, 2025	23	$245.15	$453.85	$699.00	$55,051.17
Feb, 2025	24	$243.14	$455.85	$699.00	$54,595.31
Mar, 2025	25	$241.13	$457.87	$699.00	$54,137.44
Apr, 2025	26	$239.11	$459.89	$699.00	$53,677.55
May, 2025	27	$237.08	$461.92	$699.00	$53,215.63
Jun, 2025	28	$235.04	$463.96	$699.00	$52,751.67
Jul, 2025	29	$232.99	$466.01	$699.00	$52,285.66
Aug, 2025	30	$230.93	$468.07	$699.00	$51,817.59
Sep, 2025	31	$228.86	$470.14	$699.00	$51,347.46
Oct, 2025	32	$226.78	$472.21	$699.00	$50,875.25
Nov, 2025	33	$224.70	$474.30	$699.00	$50,400.95
Dec, 2025	34	$222.60	$476.39	$699.00	$49,924.56
Jan, 2026	35	$220.50	$478.50	$699.00	$49,446.06
Feb, 2026	36	$218.39	$480.61	$699.00	$48,965.45
Mar, 2026	37	$216.26	$482.73	$699.00	$48,482.72
Apr, 2026	38	$214.13	$484.86	$699.00	$47,997.85
May, 2026	39	$211.99	$487.01	$699.00	$47,510.85
Jun, 2026	40	$209.84	$489.16	$699.00	$47,021.69
Jul, 2026	41	$207.68	$491.32	$699.00	$46,530.37
Aug, 2026	42	$205.51	$493.49	$699.00	$46,036.88
Sep, 2026	43	$203.33	$495.67	$699.00	$45,541.22
Oct, 2026	44	$201.14	$497.86	$699.00	$45,043.36
Nov, 2026	45	$198.94	$500.06	$699.00	$44,543.31
Dec, 2026	46	$196.73	$502.26	$699.00	$44,041.04
Jan, 2027	47	$194.51	$504.48	$699.00	$43,536.56
Feb, 2027	48	$192.29	$506.71	$699.00	$43,029.85
Mar, 2027	49	$190.05	$508.95	$699.00	$42,520.90
Apr, 2027	50	$187.80	$511.20	$699.00	$42,009.71
May, 2027	51	$185.54	$513.45	$699.00	$41,496.25
Jun, 2027	52	$183.28	$515.72	$699.00	$40,980.53
Jul, 2027	53	$181.00	$518.00	$699.00	$40,462.53
Aug, 2027	54	$178.71	$520.29	$699.00	$39,942.24
Sep, 2027	55	$176.41	$522.59	$699.00	$39,419.66
Oct, 2027	56	$174.10	$524.89	$699.00	$38,894.77
Nov, 2027	57	$171.79	$527.21	$699.00	$38,367.55
Dec, 2027	58	$169.46	$529.54	$699.00	$37,838.01
Jan, 2028	59	$167.12	$531.88	$699.00	$37,306.14
Feb, 2028	60	$164.77	$534.23	$699.00	$36,771.91
Mar, 2028	61	$162.41	$536.59	$699.00	$36,235.32
Apr, 2028	62	$160.04	$538.96	$699.00	$35,696.36
May, 2028	63	$157.66	$541.34	$699.00	$35,155.03
Jun, 2028	64	$155.27	$543.73	$699.00	$34,611.30
Jul, 2028	65	$152.87	$546.13	$699.00	$34,065.17
Aug, 2028	66	$150.45	$548.54	$699.00	$33,516.62
Sep, 2028	67	$148.03	$550.96	$699.00	$32,965.66
Oct, 2028	68	$145.60	$553.40	$699.00	$32,412.26
Nov, 2028	69	$143.15	$555.84	$699.00	$31,856.42
Dec, 2028	70	$140.70	$558.30	$699.00	$31,298.12
Jan, 2029	71	$138.23	$560.76	$699.00	$30,737.36
Feb, 2029	72	$135.76	$563.24	$699.00	$30,174.12
Mar, 2029	73	$133.27	$565.73	$699.00	$29,608.39
Apr, 2029	74	$130.77	$568.23	$699.00	$29,040.16
May, 2029	75	$128.26	$570.74	$699.00	$28,469.43
Jun, 2029	76	$125.74	$573.26	$699.00	$27,896.17
Jul, 2029	77	$123.21	$575.79	$699.00	$27,320.38
Aug, 2029	78	$120.67	$578.33	$699.00	$26,742.05
Sep, 2029	79	$118.11	$580.89	$699.00	$26,161.17
Oct, 2029	80	$115.55	$583.45	$699.00	$25,577.71
Nov, 2029	81	$112.97	$586.03	$699.00	$24,991.69
Dec, 2029	82	$110.38	$588.62	$699.00	$24,403.07
Jan, 2030	83	$107.78	$591.22	$699.00	$23,811.85
Feb, 2030	84	$105.17	$593.83	$699.00	$23,218.02
Mar, 2030	85	$102.55	$596.45	$699.00	$22,621.57
Apr, 2030	86	$99.91	$599.08	$699.00	$22,022.49
May, 2030	87	$97.27	$601.73	$699.00	$21,420.76
Jun, 2030	88	$94.61	$604.39	$699.00	$20,816.37
Jul, 2030	89	$91.94	$607.06	$699.00	$20,209.31
Aug, 2030	90	$89.26	$609.74	$699.00	$19,599.57
Sep, 2030	91	$86.56	$612.43	$699.00	$18,987.14
Oct, 2030	92	$83.86	$615.14	$699.00	$18,372.01
Nov, 2030	93	$81.14	$617.85	$699.00	$17,754.15
Dec, 2030	94	$78.41	$620.58	$699.00	$17,133.57
Jan, 2031	95	$75.67	$623.32	$699.00	$16,510.25
Feb, 2031	96	$72.92	$626.08	$699.00	$15,884.17
Mar, 2031	97	$70.16	$628.84	$699.00	$15,255.33
Apr, 2031	98	$67.38	$631.62	$699.00	$14,623.71
May, 2031	99	$64.59	$634.41	$699.00	$13,989.30
Jun, 2031	100	$61.79	$637.21	$699.00	$13,352.09
Jul, 2031	101	$58.97	$640.02	$699.00	$12,712.06
Aug, 2031	102	$56.14	$642.85	$699.00	$12,069.21
Sep, 2031	103	$53.31	$645.69	$699.00	$11,423.52
Oct, 2031	104	$50.45	$648.54	$699.00	$10,774.98
Nov, 2031	105	$47.59	$651.41	$699.00	$10,123.57
Dec, 2031	106	$44.71	$654.28	$699.00	$9,469.29
Jan, 2032	107	$41.82	$657.17	$699.00	$8,812.11
Feb, 2032	108	$38.92	$660.08	$699.00	$8,152.04
Mar, 2032	109	$36.00	$662.99	$699.00	$7,489.05
Apr, 2032	110	$33.08	$665.92	$699.00	$6,823.13
May, 2032	111	$30.14	$668.86	$699.00	$6,154.26
Jun, 2032	112	$27.18	$671.82	$699.00	$5,482.45
Jul, 2032	113	$24.21	$674.78	$699.00	$4,807.67
Aug, 2032	114	$21.23	$677.76	$699.00	$4,129.90
Sep, 2032	115	$18.24	$680.76	$699.00	$3,449.15
Oct, 2032	116	$15.23	$683.76	$699.00	$2,765.38
Nov, 2032	117	$12.21	$686.78	$699.00	$2,078.60
Dec, 2032	118	$9.18	$689.82	$699.00	$1,388.79
Jan, 2033	119	$6.13	$692.86	$699.00	$695.92
Feb, 2033	120	$3.07	$695.92	$699.00	$0.00

What is a student loan?

A student loan is a loan that students use to fund the tuition and costs of going to college or higher education.

How does a student loan work?

When a student takes out a student loan, they agree to repay the loan after they graduate. The payment will be with monthly installment payments. There are many different types of student loans, Federal and private student loans. Federal student loans have lowered and fixed interest rates and more flexible payment plans than student loans from private lenders. Students who have jobs while studying can start repaying their student loans while in school.

Types of Federal student loans

There are various types of Federal student loans, Federal Direct Subsidized Loans, Federal Direct Unsubsidized Loans, Federal Direct PLUS Loans, Federal Direct Parent PLUS Loans, and Federal Direct Consolidation Loans.

Federal Direct Subsidized Loans

Federal Direct Subsidized Loans are available only for undergraduate students from low-income families. This type of loan has the best interest rate and terms. Students don't have to pay interest while they are in school, deferment, or grace period. The grace period is the first 6 months after graduation when the student is not required to make payments. After the grace period is over, that's when the students start paying their student loans. If a Federal Direct Subsidized loan is not enough to cover the costs of school, you can apply for a Federal Direct Unsubsidized loan.

Federal Direct Unsubsidized Loans

Federal Direct Unsubsidized Loans are available for undergraduates, graduates, and professional students. Everyone can apply for a Direct Unsubsidized loan, not just low-income families. Interest for the student loan starts accruing while the student is still in school, during deferment, or grace period.

Federal Direct PLUS Loans

Federal Direct PLUS loans are for graduate and professional students only. The qualification for Direct Plus Loan is based on the credit score of the student instead of financial needs. There is also a half-year grace period after graduation where students don't have to make payments.

Federal Direct Parent PLUS Loans

This loan is similar to a Direct PLUS Loan but is for parents to support their dependent undergraduate students. The parents are required to make payments while their children are in school.

Federal Direct Consolidation Loan

A Federal Direct Consolidation Loan gives borrowers the option to consolidate multiple Federal loans into a single one. You will make a single monthly payment instead of multiple payments.

Private Student Loans

Student loans from private lenders have no benefits that the Federal loans offer. Each private lender is different, some require payments while the student is still in school, and others delay loan payments until you graduate. With a private student loan, the interest starts accruing while the student is still in school. A private student loan can be a fixed interest or variable interest rate. Depending on your credit score, you may need a cosigner as many students have no credit history. For students with good credit scores, their interest rates will be lower. Private student loans should be your last option when you exhaust the Federal student loans. Make sure you read all the terms carefully before signing the final contract.

Student Loans FAQs

How long is the grace period for student loans?

The grace period for Federal student loans is six months after graduation. Student loans from private lenders may be different as some private lenders require payments while the student is still in school.

Does student loans affect credit score?

Yes, student loans are part of your credit history, and they will impact your credit score.

Can I transfer private student loans to Federal?

No, there is no option to transfer as private loans have higher interest.

Do private student loans qualify for loan forgiveness?

No, there is no loan forgiveness for private student loans as they are not controlled by the government.

How to calculate student loan payments?

Student loan payments are calculated based on three variables, the loan amount, interest rate, and loan terms. To help you calculate the monthly payments for your student loan, use our student loan calculator.

Student Loan Amortization Schedule
Loan Amount
Loan Terms	years
Interest Rate
First Payment Date
Amortization schedule	Show By Month Show By Year