Student Loan Calculator
Estimate your monthly loan payment, total interest, and total amount paid over the life of the loan.
Estimate Your Loan Payment
Enter your loan amount, annual interest rate, and term in years.
The total amount you are borrowing
MONTHLY PAYMENT
$0
Over 0 monthly payments
Total Interest
$0
Total Paid
$0
How Loan Payments Are Calculated
This calculator uses the standard amortization formula to compute fixed monthly payments. Each payment covers a portion of interest plus principal, with the principal portion growing over time.
1
Enter Loan Amount
The total you are borrowing.
2
Rate & Term
Annual interest rate and loan term in years.
3
Get Payment
See monthly payment, total interest, total paid.
Other Useful Calculators
FAQ
Frequently Asked Questions
How is a monthly loan payment calculated?+
The standard formula is M = P[r(1+r)^n] / [(1+r)^n − 1], where P is the principal, r is the monthly interest rate (annual rate divided by 12), and n is the total number of monthly payments.
What is total interest paid?+
Total interest is the sum of all interest charges over the life of the loan. It equals the total amount paid minus the original loan principal.
Are these results estimates?+
Yes. This calculator provides estimates based on a fixed interest rate. Actual loan terms, fees, and variable rates may differ. Always confirm with your lender.
Is my financial data saved?+
No. All calculations happen in your browser. Nothing is stored, transmitted, or shared.
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