Student Loan Calculator
Work out your student loan payment, total interest and payoff date for federal and private loans. Free, no sign-up, and it runs in your browser.
Dedicated page: /en/student-loan-calculator
Federal rates are for loans first disbursed 1 July 2026 to 30 June 2027: 6.52% undergraduate Direct, 8.07% graduate Direct Unsubsidized, 9.07% Direct PLUS. Rates are fixed for the life of each loan and reset each July. Check the current value here. Estimate only, not financial advice.
6 months after leaving school. Interest on unsubsidized loans accrues and is added to the balance.
The government pays the interest on this part while you are in school and in grace.
1.057% on Direct loans, 4.228% on PLUS. It is taken out before the money reaches the school.
Add a second loan at the same rate to combine them.
Estimate only, not financial advice. Federal loans have fixed rates, income-driven plans, deferment and forgiveness options that private loans do not. New borrowers from 1 July 2026 repay on the Tiered Standard Plan (10 to 25 years by balance) or RAP, with RAP forgiveness after 30 years. For exact figures use the official Loan Simulator on StudentAid.gov.
Quick answer
A student loan calculator works out the monthly payment, total interest and payoff date for a student loan. Enter the balance, rate and term, pick Standard, Graduated, income-driven or RAP, and it shows the payment, the interest, the payoff date and a plan comparison.
About this Student Loan Calculator
Work out your student loan payment, total interest and payoff date for federal and private loans. It is one of the Money and Finance on ToolUstad, and like every tool here it runs entirely in your browser: nothing you type, paste or open is uploaded to a server, and there is no sign-up or usage limit.
What is a student loan calculator?
A student loan calculator works out what a loan costs every month, what it costs in total, and when it is gone, for the repayment plan you pick. A $35,000 undergraduate loan at 6.52% over 10 years, with a 6-month grace period and $10,000 subsidized, starts at $35,815 after $815 of grace interest, and the payment is $407.04 a month. The total interest is $9,490.05 and it pays off in May 2034.
Federal loan rates for 2026-27
Federal student loan rates are fixed for the life of the loan and set each year. For loans first disbursed from 1 July 2026 to 30 June 2027: undergraduate Direct Subsidized and Unsubsidized loans are 6.52%, graduate and professional Direct Unsubsidized loans are 8.07%, and Direct PLUS loans are 9.07%. The origination fee is 1.057% for Direct loans and 4.228% for PLUS, which means you receive less than you borrow: $34,630.05 of a $35,000 Direct loan.
Standard, Graduated, IDR and RAP
The Standard plan is a fixed payment over 10 years for most loans, and 10 to 30 years for larger balances under the tiered standard plan: under $25,000 is 10 years, $25,000 to $49,999 is 15 years, $50,000 to $99,999 is 20 years, and $100,000 or more is 25 years. Income-driven repayment sets the payment at 10% of discretionary income, which is AGI minus 150% of the poverty line: at $60,000 AGI for one person, that is $304.38 a month, capped at the standard payment. RAP, the Repayment Assistance Plan, is the only income-driven plan for new borrowers from 1 July 2026, with payments of 1% to 10% of AGI by income band, a $10 minimum, and forgiveness after 30 years.
Best practices
- Put extra money on the highest-rate loan first: the avalanche order, applied to student loans.
Common mistakes to avoid
- Choosing a 25-year term for a low payment and paying $36,866.97 of interest on a $35,000 loan.
- Letting grace-period interest capitalise on an unsubsidized loan without noticing.
- Assuming an income-driven payment covers the interest, when it can be less than the monthly interest.
- Refinancing a federal loan into a private loan and losing the federal protections, IDR and forgiveness.
Who is the student loan calculator for?
Students choosing how much to borrow, graduates picking a repayment plan, and borrowers checking whether an extra payment is worth it. The rates and rules are for federal loans disbursed from 1 July 2026, and the plan rules changed on that date, so check the current Federal Student Aid pages for your own loans.
Learn: how to use the Student Loan Calculator
- Pick a loan type: undergraduate, graduate, PLUS or private, which sets the rate and fee.
- Enter the loan balance, the interest rate and the term.
- Pick a repayment plan: Standard, Graduated, income-driven, or RAP for new borrowers.
- Enter grace months, the subsidized part, the origination fee, and your AGI and household size for IDR.
- Read the payment, total interest, payoff date and the plan comparison.
Features
- Federal loan presets: undergraduate 6.52%, graduate 8.07%, PLUS 9.07% for 2026-27
- Standard, Graduated, income-driven and RAP repayment plans
- Grace period interest, with the subsidized part not accruing interest
- Origination fee: 1.057% for Direct loans, 4.228% for PLUS
- IDR payment at 10% of discretionary income, 150% of the poverty line
- RAP at 1% to 10% of AGI by income band, $10 minimum, for new borrowers from 1 July 2026
- Extra monthly payment: what it saves in interest and months
- Plan comparison table for 10, 15, 20 and 25 years
- Year-by-year repayment schedule, downloadable as CSV
- Second loan balance field, for a combined total
Worked example
A $35,000 undergraduate loan at 6.52% over 10 years, with a 6-month grace period and $10,000 subsidized, starts at $35,815 after $815 of grace interest on the unsubsidized part. The payment is $407.04 a month, the total interest is $9,490.05, and it pays off in May 2034, in 90 months. Paying $100 extra a month saves $3,539.35 and clears it 30 months sooner. A PLUS loan at 9.07% on the income-driven plan, with $60,000 AGI, pays $304.38 a month and $24,288.98 of interest over 150 months.
Frequently asked questions
What are the federal student loan interest rates for 2026-27?
For loans first disbursed from 1 July 2026 to 30 June 2027: undergraduate Direct Subsidized and Unsubsidized 6.52%, graduate and professional Direct Unsubsidized 8.07%, and Direct PLUS 9.07%. The rates are fixed for the life of the loan. The origination fee is 1.057% for Direct loans and 4.228% for PLUS.
What is the standard repayment plan?
A fixed payment over 10 years for most federal loans, 10 to 30 years for larger balances under the tiered standard plan. A $35,000 loan at 6.52% is $407.04 a month over 10 years, with $9,490.05 of interest.
How does income-driven repayment work?
The payment is 10% of discretionary income, which is AGI minus 150% of the poverty line. For one person in 2025, the poverty line is $15,650, so 150% is $23,475. At $60,000 AGI, discretionary income is $36,525 a year and the payment is $304.38 a month, capped at the standard payment.
What is RAP, the new repayment plan?
Repayment Assistance Plan, the only income-driven plan for new borrowers from 1 July 2026 under the One Big Beautiful Bill Act. The payment is 1% to 10% of AGI by income band, with a $10 minimum, and forgiveness after 30 years.
Does interest accrue during the grace period?
On unsubsidized loans, yes, and on all private loans. On subsidized federal loans, the government pays the interest during school and the 6-month grace period.
What is the difference between subsidized and unsubsidized loans?
On a subsidized loan, the government pays the interest while you are in school, in grace and in deferment. On an unsubsidized loan, the interest accrues from the day the money is disbursed. Subsidized loans are only for undergraduates with financial need.
Can student loans be forgiven?
Yes, in limited cases. Public Service Loan Forgiveness forgives the balance after 120 qualifying payments in public service. RAP forgives after 30 years. Teacher Loan Forgiveness forgives up to $17,500 after 5 years in a low-income school.
Should I refinance my student loans?
Only private loans, or federal loans you are sure you will never need IDR or forgiveness for. Refinancing a federal loan into a private loan loses the federal protections, the income-driven plans and the forgiveness options, and that loss is permanent.
Related tools
More Money and Finance like this one, plus two picks from other categories. Each opens its own dedicated page.