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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.
Loan & Payment Summary |
||||||
Loan Amount: |
$65,000.00 | |||||
Monthly Payment: |
$699.00 | |||||
Total # Of Payments: |
120 | |||||
Start Date: |
May, 2025 | |||||
Payoff Date: |
Apr, 2035 | |||||
Total Interest Paid: |
$18,879.60 | |||||
Total Payment: |
$83,879.60 | |||||
Amortization Schedule |
||||||
| Payment Date | Payment # | Interest Paid | Principal Paid | Total Payment | Remaining Balance | |
|---|---|---|---|---|---|---|
| May, 2025 | 1 | $287.08 | $411.91 | $699.00 | $64,588.09 | |
| Jun, 2025 | 2 | $285.26 | $413.73 | $699.00 | $64,174.35 | |
| Jul, 2025 | 3 | $283.44 | $415.56 | $699.00 | $63,758.79 | |
| Aug, 2025 | 4 | $281.60 | $417.40 | $699.00 | $63,341.40 | |
| Sep, 2025 | 5 | $279.76 | $419.24 | $699.00 | $62,922.16 | |
| Oct, 2025 | 6 | $277.91 | $421.09 | $699.00 | $62,501.07 | |
| Nov, 2025 | 7 | $276.05 | $422.95 | $699.00 | $62,078.12 | |
| Dec, 2025 | 8 | $274.18 | $424.82 | $699.00 | $61,653.30 | |
| Jan, 2026 | 9 | $272.30 | $426.69 | $699.00 | $61,226.61 | |
| Feb, 2026 | 10 | $270.42 | $428.58 | $699.00 | $60,798.03 | |
| Mar, 2026 | 11 | $268.52 | $430.47 | $699.00 | $60,367.56 | |
| Apr, 2026 | 12 | $266.62 | $432.37 | $699.00 | $59,935.18 | |
| May, 2026 | 13 | $264.71 | $434.28 | $699.00 | $59,500.90 | |
| Jun, 2026 | 14 | $262.80 | $436.20 | $699.00 | $59,064.70 | |
| Jul, 2026 | 15 | $260.87 | $438.13 | $699.00 | $58,626.57 | |
| Aug, 2026 | 16 | $258.93 | $440.06 | $699.00 | $58,186.51 | |
| Sep, 2026 | 17 | $256.99 | $442.01 | $699.00 | $57,744.50 | |
| Oct, 2026 | 18 | $255.04 | $443.96 | $699.00 | $57,300.54 | |
| Nov, 2026 | 19 | $253.08 | $445.92 | $699.00 | $56,854.62 | |
| Dec, 2026 | 20 | $251.11 | $447.89 | $699.00 | $56,406.74 | |
| Jan, 2027 | 21 | $249.13 | $449.87 | $699.00 | $55,956.87 | |
| Feb, 2027 | 22 | $247.14 | $451.85 | $699.00 | $55,505.01 | |
| Mar, 2027 | 23 | $245.15 | $453.85 | $699.00 | $55,051.17 | |
| Apr, 2027 | 24 | $243.14 | $455.85 | $699.00 | $54,595.31 | |
| May, 2027 | 25 | $241.13 | $457.87 | $699.00 | $54,137.44 | |
| Jun, 2027 | 26 | $239.11 | $459.89 | $699.00 | $53,677.55 | |
| Jul, 2027 | 27 | $237.08 | $461.92 | $699.00 | $53,215.63 | |
| Aug, 2027 | 28 | $235.04 | $463.96 | $699.00 | $52,751.67 | |
| Sep, 2027 | 29 | $232.99 | $466.01 | $699.00 | $52,285.66 | |
| Oct, 2027 | 30 | $230.93 | $468.07 | $699.00 | $51,817.59 | |
| Nov, 2027 | 31 | $228.86 | $470.14 | $699.00 | $51,347.46 | |
| Dec, 2027 | 32 | $226.78 | $472.21 | $699.00 | $50,875.25 | |
| Jan, 2028 | 33 | $224.70 | $474.30 | $699.00 | $50,400.95 | |
| Feb, 2028 | 34 | $222.60 | $476.39 | $699.00 | $49,924.56 | |
| Mar, 2028 | 35 | $220.50 | $478.50 | $699.00 | $49,446.06 | |
| Apr, 2028 | 36 | $218.39 | $480.61 | $699.00 | $48,965.45 | |
| May, 2028 | 37 | $216.26 | $482.73 | $699.00 | $48,482.72 | |
| Jun, 2028 | 38 | $214.13 | $484.86 | $699.00 | $47,997.85 | |
| Jul, 2028 | 39 | $211.99 | $487.01 | $699.00 | $47,510.85 | |
| Aug, 2028 | 40 | $209.84 | $489.16 | $699.00 | $47,021.69 | |
| Sep, 2028 | 41 | $207.68 | $491.32 | $699.00 | $46,530.37 | |
| Oct, 2028 | 42 | $205.51 | $493.49 | $699.00 | $46,036.88 | |
| Nov, 2028 | 43 | $203.33 | $495.67 | $699.00 | $45,541.22 | |
| Dec, 2028 | 44 | $201.14 | $497.86 | $699.00 | $45,043.36 | |
| Jan, 2029 | 45 | $198.94 | $500.06 | $699.00 | $44,543.31 | |
| Feb, 2029 | 46 | $196.73 | $502.26 | $699.00 | $44,041.04 | |
| Mar, 2029 | 47 | $194.51 | $504.48 | $699.00 | $43,536.56 | |
| Apr, 2029 | 48 | $192.29 | $506.71 | $699.00 | $43,029.85 | |
| May, 2029 | 49 | $190.05 | $508.95 | $699.00 | $42,520.90 | |
| Jun, 2029 | 50 | $187.80 | $511.20 | $699.00 | $42,009.71 | |
| Jul, 2029 | 51 | $185.54 | $513.45 | $699.00 | $41,496.25 | |
| Aug, 2029 | 52 | $183.28 | $515.72 | $699.00 | $40,980.53 | |
| Sep, 2029 | 53 | $181.00 | $518.00 | $699.00 | $40,462.53 | |
| Oct, 2029 | 54 | $178.71 | $520.29 | $699.00 | $39,942.24 | |
| Nov, 2029 | 55 | $176.41 | $522.59 | $699.00 | $39,419.66 | |
| Dec, 2029 | 56 | $174.10 | $524.89 | $699.00 | $38,894.77 | |
| Jan, 2030 | 57 | $171.79 | $527.21 | $699.00 | $38,367.55 | |
| Feb, 2030 | 58 | $169.46 | $529.54 | $699.00 | $37,838.01 | |
| Mar, 2030 | 59 | $167.12 | $531.88 | $699.00 | $37,306.14 | |
| Apr, 2030 | 60 | $164.77 | $534.23 | $699.00 | $36,771.91 | |
| May, 2030 | 61 | $162.41 | $536.59 | $699.00 | $36,235.32 | |
| Jun, 2030 | 62 | $160.04 | $538.96 | $699.00 | $35,696.36 | |
| Jul, 2030 | 63 | $157.66 | $541.34 | $699.00 | $35,155.03 | |
| Aug, 2030 | 64 | $155.27 | $543.73 | $699.00 | $34,611.30 | |
| Sep, 2030 | 65 | $152.87 | $546.13 | $699.00 | $34,065.17 | |
| Oct, 2030 | 66 | $150.45 | $548.54 | $699.00 | $33,516.62 | |
| Nov, 2030 | 67 | $148.03 | $550.96 | $699.00 | $32,965.66 | |
| Dec, 2030 | 68 | $145.60 | $553.40 | $699.00 | $32,412.26 | |
| Jan, 2031 | 69 | $143.15 | $555.84 | $699.00 | $31,856.42 | |
| Feb, 2031 | 70 | $140.70 | $558.30 | $699.00 | $31,298.12 | |
| Mar, 2031 | 71 | $138.23 | $560.76 | $699.00 | $30,737.36 | |
| Apr, 2031 | 72 | $135.76 | $563.24 | $699.00 | $30,174.12 | |
| May, 2031 | 73 | $133.27 | $565.73 | $699.00 | $29,608.39 | |
| Jun, 2031 | 74 | $130.77 | $568.23 | $699.00 | $29,040.16 | |
| Jul, 2031 | 75 | $128.26 | $570.74 | $699.00 | $28,469.43 | |
| Aug, 2031 | 76 | $125.74 | $573.26 | $699.00 | $27,896.17 | |
| Sep, 2031 | 77 | $123.21 | $575.79 | $699.00 | $27,320.38 | |
| Oct, 2031 | 78 | $120.67 | $578.33 | $699.00 | $26,742.05 | |
| Nov, 2031 | 79 | $118.11 | $580.89 | $699.00 | $26,161.17 | |
| Dec, 2031 | 80 | $115.55 | $583.45 | $699.00 | $25,577.71 | |
| Jan, 2032 | 81 | $112.97 | $586.03 | $699.00 | $24,991.69 | |
| Feb, 2032 | 82 | $110.38 | $588.62 | $699.00 | $24,403.07 | |
| Mar, 2032 | 83 | $107.78 | $591.22 | $699.00 | $23,811.85 | |
| Apr, 2032 | 84 | $105.17 | $593.83 | $699.00 | $23,218.02 | |
| May, 2032 | 85 | $102.55 | $596.45 | $699.00 | $22,621.57 | |
| Jun, 2032 | 86 | $99.91 | $599.08 | $699.00 | $22,022.49 | |
| Jul, 2032 | 87 | $97.27 | $601.73 | $699.00 | $21,420.76 | |
| Aug, 2032 | 88 | $94.61 | $604.39 | $699.00 | $20,816.37 | |
| Sep, 2032 | 89 | $91.94 | $607.06 | $699.00 | $20,209.31 | |
| Oct, 2032 | 90 | $89.26 | $609.74 | $699.00 | $19,599.57 | |
| Nov, 2032 | 91 | $86.56 | $612.43 | $699.00 | $18,987.14 | |
| Dec, 2032 | 92 | $83.86 | $615.14 | $699.00 | $18,372.01 | |
| Jan, 2033 | 93 | $81.14 | $617.85 | $699.00 | $17,754.15 | |
| Feb, 2033 | 94 | $78.41 | $620.58 | $699.00 | $17,133.57 | |
| Mar, 2033 | 95 | $75.67 | $623.32 | $699.00 | $16,510.25 | |
| Apr, 2033 | 96 | $72.92 | $626.08 | $699.00 | $15,884.17 | |
| May, 2033 | 97 | $70.16 | $628.84 | $699.00 | $15,255.33 | |
| Jun, 2033 | 98 | $67.38 | $631.62 | $699.00 | $14,623.71 | |
| Jul, 2033 | 99 | $64.59 | $634.41 | $699.00 | $13,989.30 | |
| Aug, 2033 | 100 | $61.79 | $637.21 | $699.00 | $13,352.09 | |
| Sep, 2033 | 101 | $58.97 | $640.02 | $699.00 | $12,712.06 | |
| Oct, 2033 | 102 | $56.14 | $642.85 | $699.00 | $12,069.21 | |
| Nov, 2033 | 103 | $53.31 | $645.69 | $699.00 | $11,423.52 | |
| Dec, 2033 | 104 | $50.45 | $648.54 | $699.00 | $10,774.98 | |
| Jan, 2034 | 105 | $47.59 | $651.41 | $699.00 | $10,123.57 | |
| Feb, 2034 | 106 | $44.71 | $654.28 | $699.00 | $9,469.29 | |
| Mar, 2034 | 107 | $41.82 | $657.17 | $699.00 | $8,812.11 | |
| Apr, 2034 | 108 | $38.92 | $660.08 | $699.00 | $8,152.04 | |
| May, 2034 | 109 | $36.00 | $662.99 | $699.00 | $7,489.05 | |
| Jun, 2034 | 110 | $33.08 | $665.92 | $699.00 | $6,823.13 | |
| Jul, 2034 | 111 | $30.14 | $668.86 | $699.00 | $6,154.26 | |
| Aug, 2034 | 112 | $27.18 | $671.82 | $699.00 | $5,482.45 | |
| Sep, 2034 | 113 | $24.21 | $674.78 | $699.00 | $4,807.67 | |
| Oct, 2034 | 114 | $21.23 | $677.76 | $699.00 | $4,129.90 | |
| Nov, 2034 | 115 | $18.24 | $680.76 | $699.00 | $3,449.15 | |
| Dec, 2034 | 116 | $15.23 | $683.76 | $699.00 | $2,765.38 | |
| Jan, 2035 | 117 | $12.21 | $686.78 | $699.00 | $2,078.60 | |
| Feb, 2035 | 118 | $9.18 | $689.82 | $699.00 | $1,388.79 | |
| Mar, 2035 | 119 | $6.13 | $692.86 | $699.00 | $695.92 | |
| Apr, 2035 | 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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