calcy treasure chest of featuresLove the calculators but not the ads?

Take a sneak peek at the Ad-Free Design being enjoyed by hundreds of members for less than 25¢ a week. Full details and a bonus!

Student Loan Repayment Calculator to Forecast Payments Before and After Graduation

Calculator Preferences
Student Loan Repayment Calculator Sign
Student Loan Repayment Calculator

This calculator will help you to forecast the financial consequences of all of your combined educational borrowing. It will accept loan entries for up to 24 different student loans (up to 4 loans per year for up to 6 years), and will accommodate all types of loans: Subsidized, Unsubsidized, PLUS, and Private. The calculator also allows you to defer payments, capitalize interest, and make more than the minimum payments. Also includes a printer friendly report (combined or separate). The Learn tab includes:

  • Overcoming Student Loan Complexities.
  • Subsidized Vs. Unsubsidized Loans.
  • Simplified Types of Student Loans.
Learn More

Selected Data Record:

A Data Record is a set of calculator entries that are stored in your web browser's Local Storage. If a Data Record is currently selected in the "Data" tab, this line will list the name you gave to that data record. If no data record is selected, or you have no entries stored for this calculator, the line will display "None".

DataData recordData recordSelected data record: None
College start date:College start date:College start month and year:Month and year you started or will start college:

Month and year you started or will start college:

Select the month and year you started or will start college.

College yrs:College years:College attend years:Number of years you plan on attending college:

Number of years you plan on attending college:

Select the number of years you plan to attend college. If you are already in college, and you would like to include student loans that you have already taken out, be sure include the years you have already completed in your selection.

Loans/yr:Loans per year:Max loans per year:Maximum number of loans per year:

Maximum number of loans per year:

Select the maximum number of student loans you expect to take out in any one year. This will expand the loan entry form to accommodate the additional loans.

Load examples:

Tap the button in this row to enter a set of example loan entries (1 loan for each year you plan on attending college). Note that you will be asked if you want to confirm a reset of the calculator before the examples will be entered. Once loaded you can choose to change the example entries to the actual variables, clear the examples one at a time, or tap the "Clear All" button to reset the calculator and remove the examples.

Year #x, Loan #y

This loan heading row will list the number pertaining to your nth year of college (Year #). Typically year #1 is your Freshmen year, #2 is your Sophomore year, #3 is your Junior year, and #4 is your Senior year. Each year will list up to 4 lines (Loan #) based on the maximum number of loans per year selected in the top section of the calculator.

Tap the plus (+) icon to show the loan variable fields for this loan. Tap the minus (-) icon to hide the loan variable fields.

If this loan's variable fields have been completed and the loan has been added to the repayment plan, the original amount borrowed will be listed on the right-hand side of the row. If not, "$0.00" will be displayed.

Loan month:

Select the month of the school year in which the loan was or will be originated. This will be used to start payments and/or start charging interest on unsubsidized loans taken out mid-year.

Loan amount:

Enter the amount borrowed for each student loan. For student loans, be sure each amount falls within the maximum allowed for the type of loan and the year number you are taking the loan out for. As of the last update of this calculator, maximum amounts for undergraduate direct loans were as follows:

Freshman:$3,500
Sophomore:$4,500
Junior:$5,500
Senior:$5,500

Loan rate:

Enter the annual interest rate for each loan. Enter as a percentage (for .06, enter 6% or just 6). To give you an idea what to enter, here is a chart showing various rates for borrow years by loan type:

Undergraduate Sub and Unsub
2014:3.86%
2015:4.66%
2016:4.29%
2017:3.76%
PLUS or Grad PLUS
2014:6.41%
2015:7.21%
2016:6.84%
2017:6.31%
Grad Unsub
2014:5.41%
2015:6.21%
2016:5.84%
2017:5.31%

Loan years:

Enter the term of the loan in number of years. The most common number of years would be ten for a standard loan repayment term. Based on your income when you leave school, you may be eligible for other types of payment plans called income contingent repayment plans that would lower your monthly payments, but extend the number of years you have to repay the loan. Click the link in the glossary for more information on these plans.

Minimum payment:

Enter the minimum monthly payment for each loan (typically $50). If the calculated payment amount turns out to be less than the entered minimum payment, the calculated payment will be used instead -- which will shorten the term and reduce the interest charges on the loan. Feel free to increase the payment amounts to see how much interest you will save by paying more than the minimum.

Loan origination fee:

If applicable, enter the loan origination fee percentage charged by the lender. Enter as a percentage but without the percent sign (for .0169 or 1.69%, enter 1.069). Typically the loan origination fee is substracted from your disbursement before you get it, so it won't be included in loan repayment schedule. However, the amount of the fee will be listed in the results. The origination fees as of the creation date of this calculator were as follows:

Undergrad Sub and Unsub:1.069%
Grad Unsub1.069%
PLUS and Grad PLUS4.276%

Loan attributes (type):

Subsidized (Sub): If the loan is subsidized, tap the Sub button to turn it orange. This will indicate that the government will pay your interest for you while you are in school and for 6 months after leaving school. After the deferment period you will begin making payments as normal. For unsubsidized loans, uncheck the checkbox, which will enable the Def and Cap checkboxes.

Deferred payments (Def): If the loan is unsubsidized and you wish to defer making principal payments until 6 months after leaving school, tap the Def button to turn it orange. However, if you plan to make full payments while you are in school (recommended), leave the box unchecked (gray). Note that this checkbox will only be enabled if the Sub checkbox is unchecked.

Capitalize interest (Cap): If this is an unsubsidized loan, and you wish to capitalize the interest (add all accrued interest to loan balance after deferment period (not recommended), tap the Cap button to turn it orange. If you plan to keep the interest current (pay interest as it gets charged, recommended), leave the checkbox unchecked. Note that this checkbox will only be enabled if the Sub checkbox is unchecked.

Add or Remove Loan, or Clear Loan Fields:

Once you have entered all variables of a loan, and checked all applicable checkboxes, place a checkmark in the checkbox in this row to add the loan to your repayment plan. You can add and remove loans from your plan simply by checking and unchecking the box (loan fields remain unchanged). Note that any time you make a change to an of the loan entries, the checkbox will need to be re-checked. To clear all field entries and remove the loan from your plan, click the ClearClearClear EntriesClear Entries button.

Y1, L1Yr #1, Ln #1Year #1, Loan #1Year #1, Loan #1
$0
Month:Month:Month:Month:
Loan amount:Loan amount:Loan amount:Loan amount:
Loan rate:Loan rate:Loan rate:Loan rate:
Loan years:Loan years:Loan years:Loan years:
Minimum pmt:Minimum payment:Minimum payment:Minimum payment:
Loan fee:Loan fee:Loan origination fee:Loan origination fee:
Type:Loan attributes:Loan attributes:
Action:Action:Action:
Y1, L2Yr #1, Ln #2Year #1, Loan #2Year #1, Loan #2
$0
Month:Month:Month:Month:
Loan amount:Loan amount:Loan amount:Loan amount:
Loan rate:Loan rate:Loan rate:Loan rate:
Loan years:Loan years:Loan years:Loan years:
Minimum pmt:Minimum payment:Minimum payment:Minimum payment:
Loan fee:Loan fee:Loan origination fee:Loan origination fee:
Attributes:Attributes:Loan attributes:Loan attributes:
Action:Action:Action:

Show results for:

Select All Loans to see the results for all loans combined, or select an individual loan to the see the results for that loan only. To print the report, click the Printer Friendly Report button displayed both at the top and the bottom of the following report area. This will open the displayed report in a separate window for printing.

Show:Show:Show results for:Show results for:
Borrowed:Total borrowed:Total borrowed:Total borrowed:

Total borrowed:

This is the total amount borrowed for either all loans, or for the selected loan.

Orig fees:Origination fees:Origination fees:Origination fees:

Origination fees:

If All Loans is selected, this field will list the total of all loan origination fees. If an individual loan is selected, the field will list loan origination fee for the selected loan.

Disbursed:Net disbursements:Net disbursements:Net disbursements:

Net disbursements:

If All Loans is selected, this field will list the total disbursements less the total loan origination fees. If an individual loan is selected, the field will list the total disbursement less the loan origination fee for the selected loan.

Max pmt:Max payment:Maximum payment:Maximum payment:

Maximum payment:

If All Loans is selected, this field will list the most you will pay for all loans during any one month of the repayment period. If an individual loan is selected, the field will list the higher of the minimum, entered, and amortized payment amounts.

Interest:Total interest:Total interest:Total interest:

Total interest:

If All Loans is selected, this field will list the total of all interest charges for all loans, from starting school to paying off the last loan. If an individual loan is selected, the field will list interest cost for the selected loan.

Total pmts:Total payments:Total payments:Total payments:

Total payments:

If All Loans is selected, this field will list the total of all interest and principal payments for all loans, from starting school to paying off the last loan. If an individual loan is selected, the field will list the total interest principal payments for the selected loan.

If you would like to save the current entries to the secure database, tap or click on the Data tab, select "New Data Record", give the data record a name, then tap or click the Save button. To save changes to previously saved entries, simply tap the Save button. Please select and "Clear" any data records you no longer need.

Feedback AppreciatedFeedback Greatly AppreciatedYour Feedback Would Be Greatly AppreciatedYour Feedback Is Greatly Appreciated
Heading

Tip

About

About the Student Loan Repayment Calculator

This free online school loan calculator will help you to forecast the financial consequences of all of your combined educational borrowing.

The calculator will accept loan entries for up to 24 different student loans (up to 4 loans per year for up to 6 years), and will accommodate all types of loans: Subsidized, Unsubsidized, PLUS, and Private. The calculator also allows you to defer payments, capitalize interest, and make more than the minimum payments.

Plus, after clicking the Calculate Student Loan button, you can choose to see either a combined loan repayment schedule for all loans, or view each loan's payment schedule separately.

Finally, the calculator also includes a printer friendly report so you can print out different borrowing scenarios and compare them with others.

Discover the benefits of subscribing to the Ad-Free Member Version of my website.
Learn how I went from being trapped in a work I hated to being free to work at what I love.

Instructions

How to use the Student Loan Repayment Calculator

Step #1

Select the month and year you started or will start college.

Step #2

Select the number of years you will be enrolled in college.

Step #3

Select the maximum number of loans you plan to take out each year.

Step #4

For each year, enter the loan variables for each student loan you did or will take out for that year (tap the info icons in the column headings for specific instructions) and then check the "Add" checkbox to include each entered loan in the calculations.

Step #5

Once you have entered all loans, tap the "Calculate Student Loans" button.

Step #6

You can view and/or print the loans totals and repayment schedule for all loans combined, or for each loan separately (loan drop-down menu located below the calculate button).

IMPORTANT: While you can enter both federal loans and private loans for financial planning purposes, please be aware that you cannot consolidate private loans with federal loans, nor can you consolidate your Parent's PLUS loan with your own federal loans.

Saving Entries:

If your web browser supports Local Storage, you can save your entries to your web browser so won't have to start over on your next visit. Please note that your saved entries can only be retrieved from the same device and web browser you were using when you stored them. If you would like to access your saved entries from any device I invite you to subscribe to the Ad-Free Member Version.

To save your entries to your web browser, click or tap the Data tab in the Help and Tools section (mobile: top right of the main screen), select "New Data Record" from the drop-down menu, enter a name for the data record, and then tap or click the Save button.

To load previously saved entries, click or tap the Data tab and select the saved data record from the drop-down menu. You can then save any changes to your entries by simply clicking the Save button while the data record is selected.

To clear a named set of saved entries, click or tap the Data tab, select the saved data record from the drop-down menu, and then tap or click the Clear button.

Numbers and Decimals:

Only numeric characters (0-9 and decimal points) may be entered in numeric fields. Non-numeric characters (dollar signs, percent signs, commas, etc.) may cause calculation errors. If the field includes a grid icon, tapping the icon will open a popup keypad which will include only the characters allowed in the field. If your device keypad does not include a decimal point, use this popup keypad to enter decimal numbers where applicable.

Popup Tool Tips:

Tap the info (i) icons for a further explanation of each entry field (you can click [X] or outside of the pop-up tool tips to close them). A summary of these explanations, along with any additional term explanations, can also be found under the Terms tab.

Disclaimer:

Since I can't test for every possible combination of numbers, please be sure to double-check the results of this calculator yourself before considering them to be valid. If you do discover an issue with the calculated results, please report the issue using the feedback form located below the calculator.

Scrolling & Shrinking:

In order to scroll the calculator vertically you will need to swipe just outside of the calculator's dark-blue border, or use the window's far right-hand scroll bar, whichever is applicable to your device.

If the top section of the calculator becomes to tall for your viewport, tapping in the "Enter a problem..." field should reset the top section to its original height.

Disclaimer:

The Algebra Calculator is the only calculator on the site that I did not create myself. And since I did not create it, I don't have access to the code for fixing any issues you may be experiencing. So if you are having issues with the calculator, please visit the support page at Mathway.com for assistance.

Glossary

Fields, Terms, and Definitions.

Reset button:

Clicking the "Reset" button will restore the calculator to its default settings.

Pocket Calculator

Calculate any amounts needed to enter into calculator.

 

Data Management

Save and retrieve entries and notes (requires HTML5 compliant web browser).

Calculator Data

Calculator Data:

If you are using the latest version of your web browser software, this feature will allow you to save your calculator entries to your web browser's local storage in between visits. This means the calculator entries can only be recalled with the same device and web browser you were using when you saved them. If you'd like to save data between devices you will need to subscribe to the Ad-Free Member Version.

Save: To save a new set of calculator entries, select "New Data Record" from the dropdown list, enter a nickname for the data record, then click the "Save" button.

Load: To load a previously saved set of calculator entries, simply select the name of the data record from the dropdown list.

Save Changes: To save changes to a set of previously saved calculator entries, be sure the name of the data record is selected, and then click the "Save" button.

Clear: To clear a saved set of entries, be sure the name of the data record is selected, and then click the "Clear" button.

Backup Data
My Notes:
Subscribe to the Cloud level of the Ad-Free Member Version to save your entries and notes to a secure online database, allowing you to access your saved entries from any device or web browser.

Sorry! The Save functions are bonus features reserved for those who allow ads to display on the page.

If you would like to use the Save features, please disable ad blocking for this website and refresh the page. Or you can choose to subscribe to the Ad-Free Member Version of the site.

Help and Tools

Help and Tools:

This section, which you can Unstick or Hide in the Calculator Preferences (just above the top of the calculator), contains the following tabs (content too long to fit within bordered frame can be scrolled up and down):

About: Click this tab for an introduction to the calculator.

Instructions: Click this tab for step-by-step instructions for using the calculator.

Terms: Click this tab for a list of the descriptions that are located within each popup help button (info icons).

PCalc: Click this tab for a handy "pocket" calculator you can use when you need to calculate an entry needed for the calculator.

Data: Click this tab to save a set of entries or a note in between visits. Entries and notes will be stored to your web browser's local storage (if supported by your browser of choice), meaning they can only be recalled with the same device and web browser you were using when you saved them. If you'd like to save entries and notes between devices you can do so by subscribing to the Ad-Free Member Version.

 

Favorites

Add or remove this page to/from my favorites.

Adjust Calculator Width:

Move the slider to left and right to adjust the calculator width. Note that the Help and Tools panel will be hidden when the calculator is too wide to fit both on the screen. Moving the slider to the left will bring the instructions and tools panel back into view.

Also note that some calculators will reformat to accommodate the screen size as you make the calculator wider or narrower. If the calculator is narrow, columns of entry rows will be converted to a vertical entry form, whereas a wider calculator will display columns of entry rows, and the entry fields will be smaller in size ... since they will not need to be "thumb friendly".

Show/Hide Popup Keypads:

Select Show or Hide to show or hide the popup keypad icons located next to numeric entry fields. These are generally only needed for mobile devices that don't have decimal points in their numeric keypads. So if you are on a desktop, you may find the calculator to be more user-friendly and less cluttered without them.

Stick/Unstick Tools:

Select Stick or Unstick to stick or unstick the help and tools panel. Selecting "Stick" will keep the panel in view while scrolling the calculator vertically. If you find that annoying, select "Unstick" to keep the panel in a stationary position.

If the tools panel becomes "Unstuck" on its own, try clicking "Unstick" and then "Stick" to re-stick the panel.