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Student Loan Calculator


Student Loan Calculator to quickly calculate the monthly payments for your student loan. The student loan calculator works for both unsubsidized and subsidized student loans. Get a student loan amortization schedule that has all the details about principle, interest, and payments.

Student Loan Amortization Schedule

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

Loan & Payment Summary

Loan Amount:
$65,000.00
Monthly Payment:
$699.00
Total # Of Payments:
120
Start Date:
Jun, 2024
Payoff Date:
May, 2034
Total Interest Paid:
$18,879.60
Total Payment:
$83,879.60


Amortization Schedule

Payment Date Payment # Interest Paid Principal Paid Total Payment Remaining Balance
Jun, 2024 1 $287.08 $411.91 $699.00 $64,588.09
Jul, 2024 2 $285.26 $413.73 $699.00 $64,174.35
Aug, 2024 3 $283.44 $415.56 $699.00 $63,758.79
Sep, 2024 4 $281.60 $417.40 $699.00 $63,341.40
Oct, 2024 5 $279.76 $419.24 $699.00 $62,922.16
Nov, 2024 6 $277.91 $421.09 $699.00 $62,501.07
Dec, 2024 7 $276.05 $422.95 $699.00 $62,078.12
Jan, 2025 8 $274.18 $424.82 $699.00 $61,653.30
Feb, 2025 9 $272.30 $426.69 $699.00 $61,226.61
Mar, 2025 10 $270.42 $428.58 $699.00 $60,798.03
Apr, 2025 11 $268.52 $430.47 $699.00 $60,367.56
May, 2025 12 $266.62 $432.37 $699.00 $59,935.18
Jun, 2025 13 $264.71 $434.28 $699.00 $59,500.90
Jul, 2025 14 $262.80 $436.20 $699.00 $59,064.70
Aug, 2025 15 $260.87 $438.13 $699.00 $58,626.57
Sep, 2025 16 $258.93 $440.06 $699.00 $58,186.51
Oct, 2025 17 $256.99 $442.01 $699.00 $57,744.50
Nov, 2025 18 $255.04 $443.96 $699.00 $57,300.54
Dec, 2025 19 $253.08 $445.92 $699.00 $56,854.62
Jan, 2026 20 $251.11 $447.89 $699.00 $56,406.74
Feb, 2026 21 $249.13 $449.87 $699.00 $55,956.87
Mar, 2026 22 $247.14 $451.85 $699.00 $55,505.01
Apr, 2026 23 $245.15 $453.85 $699.00 $55,051.17
May, 2026 24 $243.14 $455.85 $699.00 $54,595.31
Jun, 2026 25 $241.13 $457.87 $699.00 $54,137.44
Jul, 2026 26 $239.11 $459.89 $699.00 $53,677.55
Aug, 2026 27 $237.08 $461.92 $699.00 $53,215.63
Sep, 2026 28 $235.04 $463.96 $699.00 $52,751.67
Oct, 2026 29 $232.99 $466.01 $699.00 $52,285.66
Nov, 2026 30 $230.93 $468.07 $699.00 $51,817.59
Dec, 2026 31 $228.86 $470.14 $699.00 $51,347.46
Jan, 2027 32 $226.78 $472.21 $699.00 $50,875.25
Feb, 2027 33 $224.70 $474.30 $699.00 $50,400.95
Mar, 2027 34 $222.60 $476.39 $699.00 $49,924.56
Apr, 2027 35 $220.50 $478.50 $699.00 $49,446.06
May, 2027 36 $218.39 $480.61 $699.00 $48,965.45
Jun, 2027 37 $216.26 $482.73 $699.00 $48,482.72
Jul, 2027 38 $214.13 $484.86 $699.00 $47,997.85
Aug, 2027 39 $211.99 $487.01 $699.00 $47,510.85
Sep, 2027 40 $209.84 $489.16 $699.00 $47,021.69
Oct, 2027 41 $207.68 $491.32 $699.00 $46,530.37
Nov, 2027 42 $205.51 $493.49 $699.00 $46,036.88
Dec, 2027 43 $203.33 $495.67 $699.00 $45,541.22
Jan, 2028 44 $201.14 $497.86 $699.00 $45,043.36
Feb, 2028 45 $198.94 $500.06 $699.00 $44,543.31
Mar, 2028 46 $196.73 $502.26 $699.00 $44,041.04
Apr, 2028 47 $194.51 $504.48 $699.00 $43,536.56
May, 2028 48 $192.29 $506.71 $699.00 $43,029.85
Jun, 2028 49 $190.05 $508.95 $699.00 $42,520.90
Jul, 2028 50 $187.80 $511.20 $699.00 $42,009.71
Aug, 2028 51 $185.54 $513.45 $699.00 $41,496.25
Sep, 2028 52 $183.28 $515.72 $699.00 $40,980.53
Oct, 2028 53 $181.00 $518.00 $699.00 $40,462.53
Nov, 2028 54 $178.71 $520.29 $699.00 $39,942.24
Dec, 2028 55 $176.41 $522.59 $699.00 $39,419.66
Jan, 2029 56 $174.10 $524.89 $699.00 $38,894.77
Feb, 2029 57 $171.79 $527.21 $699.00 $38,367.55
Mar, 2029 58 $169.46 $529.54 $699.00 $37,838.01
Apr, 2029 59 $167.12 $531.88 $699.00 $37,306.14
May, 2029 60 $164.77 $534.23 $699.00 $36,771.91
Jun, 2029 61 $162.41 $536.59 $699.00 $36,235.32
Jul, 2029 62 $160.04 $538.96 $699.00 $35,696.36
Aug, 2029 63 $157.66 $541.34 $699.00 $35,155.03
Sep, 2029 64 $155.27 $543.73 $699.00 $34,611.30
Oct, 2029 65 $152.87 $546.13 $699.00 $34,065.17
Nov, 2029 66 $150.45 $548.54 $699.00 $33,516.62
Dec, 2029 67 $148.03 $550.96 $699.00 $32,965.66
Jan, 2030 68 $145.60 $553.40 $699.00 $32,412.26
Feb, 2030 69 $143.15 $555.84 $699.00 $31,856.42
Mar, 2030 70 $140.70 $558.30 $699.00 $31,298.12
Apr, 2030 71 $138.23 $560.76 $699.00 $30,737.36
May, 2030 72 $135.76 $563.24 $699.00 $30,174.12
Jun, 2030 73 $133.27 $565.73 $699.00 $29,608.39
Jul, 2030 74 $130.77 $568.23 $699.00 $29,040.16
Aug, 2030 75 $128.26 $570.74 $699.00 $28,469.43
Sep, 2030 76 $125.74 $573.26 $699.00 $27,896.17
Oct, 2030 77 $123.21 $575.79 $699.00 $27,320.38
Nov, 2030 78 $120.67 $578.33 $699.00 $26,742.05
Dec, 2030 79 $118.11 $580.89 $699.00 $26,161.17
Jan, 2031 80 $115.55 $583.45 $699.00 $25,577.71
Feb, 2031 81 $112.97 $586.03 $699.00 $24,991.69
Mar, 2031 82 $110.38 $588.62 $699.00 $24,403.07
Apr, 2031 83 $107.78 $591.22 $699.00 $23,811.85
May, 2031 84 $105.17 $593.83 $699.00 $23,218.02
Jun, 2031 85 $102.55 $596.45 $699.00 $22,621.57
Jul, 2031 86 $99.91 $599.08 $699.00 $22,022.49
Aug, 2031 87 $97.27 $601.73 $699.00 $21,420.76
Sep, 2031 88 $94.61 $604.39 $699.00 $20,816.37
Oct, 2031 89 $91.94 $607.06 $699.00 $20,209.31
Nov, 2031 90 $89.26 $609.74 $699.00 $19,599.57
Dec, 2031 91 $86.56 $612.43 $699.00 $18,987.14
Jan, 2032 92 $83.86 $615.14 $699.00 $18,372.01
Feb, 2032 93 $81.14 $617.85 $699.00 $17,754.15
Mar, 2032 94 $78.41 $620.58 $699.00 $17,133.57
Apr, 2032 95 $75.67 $623.32 $699.00 $16,510.25
May, 2032 96 $72.92 $626.08 $699.00 $15,884.17
Jun, 2032 97 $70.16 $628.84 $699.00 $15,255.33
Jul, 2032 98 $67.38 $631.62 $699.00 $14,623.71
Aug, 2032 99 $64.59 $634.41 $699.00 $13,989.30
Sep, 2032 100 $61.79 $637.21 $699.00 $13,352.09
Oct, 2032 101 $58.97 $640.02 $699.00 $12,712.06
Nov, 2032 102 $56.14 $642.85 $699.00 $12,069.21
Dec, 2032 103 $53.31 $645.69 $699.00 $11,423.52
Jan, 2033 104 $50.45 $648.54 $699.00 $10,774.98
Feb, 2033 105 $47.59 $651.41 $699.00 $10,123.57
Mar, 2033 106 $44.71 $654.28 $699.00 $9,469.29
Apr, 2033 107 $41.82 $657.17 $699.00 $8,812.11
May, 2033 108 $38.92 $660.08 $699.00 $8,152.04
Jun, 2033 109 $36.00 $662.99 $699.00 $7,489.05
Jul, 2033 110 $33.08 $665.92 $699.00 $6,823.13
Aug, 2033 111 $30.14 $668.86 $699.00 $6,154.26
Sep, 2033 112 $27.18 $671.82 $699.00 $5,482.45
Oct, 2033 113 $24.21 $674.78 $699.00 $4,807.67
Nov, 2033 114 $21.23 $677.76 $699.00 $4,129.90
Dec, 2033 115 $18.24 $680.76 $699.00 $3,449.15
Jan, 2034 116 $15.23 $683.76 $699.00 $2,765.38
Feb, 2034 117 $12.21 $686.78 $699.00 $2,078.60
Mar, 2034 118 $9.18 $689.82 $699.00 $1,388.79
Apr, 2034 119 $6.13 $692.86 $699.00 $695.92
May, 2034 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.




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