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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.

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:
Mar, 2023
Payoff Date:
Feb, 2033
Total Interest Paid:
$18,879.60
Total Payment:
$83,879.60


Amortization Schedule

Payment Date Payment # Interest Paid Principal Paid Total Payment Remaining Balance
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.




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