Student Loan Repayment Calculator to Forecast Payments Before and After Graduation

Student Loan Repayment Calculator Sign

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.

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Student Loan Repayment Calculator

Calculate your student loan repayment plan, for up to 24 loans, subsidized, unsubsidized, PLUS or private.

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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:


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
Grad Unsub

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
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:
Y1, L2Yr #1, Ln #2Year #1, Loan #2Year #1, Loan #2
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:

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 online 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.

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Help and Tools


Student Loan Basics

Overcoming Student Loan Complexities

As is customary with most government programs, the government prides itself in complicating its ever-changing student loan rules, limitations, stipulations, and exceptions to the point that only a genius legal attorney -- with a degree in finance and a photographic memory -- can know precisely what steps to take after reading the exhaustive documentation.

Unfortunately that usually leaves the rest of us (you know, the persons the programs were intended to help) lost in a maze of legal speak and unfamiliar financial terms.

And when you finally get over the confusion born migraines, and you gain enough courage to submit a student loan form, the feeling you get is probably comparable to the feeling you'd get when ...

Lighting a firework only to hear the mortar tube tip over just after you've turned to start jogging to a safe distance. Yikes!

So while it's impractical to try to summarize the maze of student loan documentation on a single web page, what I can do is:

  • Recommend you visit the Financial Aid office and ask for their expert assistance.
  • Invite you to visit and spend several days memorizing the material.
  • Talk you into paying for your education as you go, instead of borrowing from an uncertain future (Will you get a job? Will your field of study still exist? Will interest rates skyrocket?)
  • Give you just enough information to help you use the calculator to see how much you'll be paying each month for all of your combined student loans.

Assuming you want just the basics you will need to use the student loan repayment calculator, I'll do my best to highlight the key points.

Subsidized Vs Unsubsidized

Before listing the loan types it's important to understand the basic differences between Subsidized and Unsubsidized student loans.

Available to undergraduates based on financial need.Available to undergraduates and graduates, no financial need requirement.
The U.S. Department of Education (A.K.A. taxpayers) pays your interest during school and for six months after leaving school.You are responsible for paying the interest both during school and after leaving school. You can either pay the interest charges as they are charged (highly recommended), or you can let them build up and have them added to the amount you owe once you start making payments.
Your school determines how much you can borrow.

Types of Student Loans

Based on my research and my experience with helping my own children, there are basically 4 types of student loans:

  1. Federal Direct Subsidized
  2. Federal Direct Unsubsidized
  3. Federal Parent PLUS
  4. Private

Here are the basics for each of the four loan types:

1) Federal Direct Subsidized
  • Available to undergraduates based on need (determined by FAFSA).
  • Government pays the interest on the loan while you are in school.
  • Payments don't start until 6 months after leaving school.
2) Federal Direct Unsubsidized
  • Available to undergraduates and graduate students.
  • You are responsible for the interest on the loan.
  • Interest can be paid as it is charged, or can be accumulated and added to the loan balance (otherwise known as interest capitalization).
  • Payments aren't required until 6 months after leaving school.
3) Federal Parent PLUS
  • Available to parents of undergraduates and graduate students.
  • Parents begin making payments shortly after the loan is granted.
  • Parents must make the minimum payments, but can set a higher payment amount.
4) Private
  • Varies by lender.

Income Driven Repayment Plans

While the Student Loan Calculator on this page isn't equipped to handle them, there are 4 types of federal repayment plans you might qualify for if your payments are high relative to your income:

  • Revised Pay As You Earn (REPAYE).
  • Pay As You Earn (PAYE).
  • Income Based (IBR).
  • Income Contingent (ICR).

For more information on these plans, visit

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.