Student Loan Payment Calculator
Enter a loan amount, an interest rate, and a repayment term, and this calculator returns the monthly payment, the total you will repay, and the interest portion. It uses standard amortization, the same formula lenders use for fixed-rate installment loans.
Estimate only. This is arithmetic on the numbers you entered, not an offer of credit, a quote, or a prediction of any lender's terms. Nothing you enter is stored or transmitted.
Where to Get Real Numbers to Enter
The rate. For federal Direct Loans first disbursed in the 2026-27 award year, the fixed rates are 6.52% for undergraduates, 8.07% for graduate students, and 9.07% for PLUS loans1. For a private loan, use a rate from an actual prequalification or written quote, not a lender’s advertised starting rate, which describes their most creditworthy applicants. Our private student loans guide covers how to get comparable quotes.
The term. The federal standard repayment plan is 10 years. Private terms commonly run 5 to 20 years depending on the lender and product. A longer term lowers the monthly figure and raises the total; running the same balance at two terms makes that trade visible in seconds.
The amount. Borrow against the real gap, not the cost of attendance. The funding gap calculator computes it, and when federal loans are not enough covers what to do about it.
What This Calculator Does Not Model
Fixed-payment amortization describes federal standard repayment and typical fixed-rate private loans. It does not model income-driven repayment plans, whose payments depend on your income each year; variable rates, which change over the life of the loan; interest that accrues and capitalizes while you are in school; or origination fees added at disbursement. For federal repayment plan specifics, the loan simulator at studentaid.gov models your actual loans from your federal record, and it is the authoritative tool on the federal side.
This page is educational and is not financial advice, a loan offer, or a solicitation of credit. CollegeNPC.com is not a lender and does not take loan applications. Rates, fees, and eligibility criteria are set by lenders and change; verify current terms directly with any lender and with studentaid.gov before borrowing. The U.S. Department of Education and the Consumer Financial Protection Bureau both advise using federal student aid before considering private loans. Advertisements for loan products may appear on this page; see our advertising disclosure.
Federal Direct Loan interest rates for loans first disbursed July 1, 2026 through June 30, 2027, set under 20 U.S.C. 1087e (10-year Treasury auction of May 12, 2026 plus statutory add-ons). ↩︎