Student Loan Repayment Calculator
Estimate student loan payments on a 10-year standard or 25-year extended plan (or any term), and what refinancing to a new rate would save.
For information and education only — not financial advice. Results are estimates based on the numbers you enter; check important decisions with a qualified professional.
How to use
- 1Enter your balance, interest rate and repayment term.
- 2Optionally enter a refinance rate and term to compare.
How it's calculated
Payment = balance × r ÷ (1 − (1 + r)⁻ⁿ), with r = rate ÷ 12. Federal Standard is 10 years; Extended is up to 25 years.
Frequently asked questions
Should I refinance federal student loans?
Refinancing with a private lender can lower the rate, but you lose federal protections like income-driven repayment, deferment and forgiveness programs.
What about income-driven repayment?
IDR plans set payments as a share of discretionary income and change with policy. Use the official Loan Simulator on StudentAid.gov for those.
Do extra payments help?
Yes. Extra payments go to principal (after interest), shortening the loan and cutting total interest. Tell your servicer to apply them to principal.