Student Loan Repayment Calculator
Loan Payoff Timeline
Calculate your payoff date and total cost with optional extra payments
Repayment Plan Comparison
Compare Standard (10yr), Extended (25yr), and Graduated repayment plans
Formula
Monthly Payment = P x [r(1+r)^n] / [(1+r)^n - 1]
Frequently Asked Questions
How much can I save with extra payments?
Even an extra $50-100/month can save thousands in interest and shave years off your repayment. On a $30,000 loan at 6%, an extra $100/month saves about $4,500 in interest and pays off 3.5 years early.
What is the difference between standard and extended repayment?
Standard repayment is 10 years with fixed payments. Extended is 25 years with lower monthly payments but significantly more total interest. Extended plans can cost 2-3x more in interest.
What is graduated repayment?
Graduated repayment starts with lower payments that increase every two years over a 10-year term. It is designed for borrowers who expect their income to grow over time.
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