Student loan payment calculator

All amounts are in USD. The fixed nominal annual interest rate is divided by 12, with equal payments at the end of each month; the first payment is one month after borrowing. This input is not an APR. Totals use unrounded payments; lender rounding and daily interest can differ. Taxes, insurance, late fees and variable rates are excluded.

This is a fixed monthly model, not a comparison of federal repayment programs. Federal student loans may accrue interest daily. Income-driven or graduated payments, forgiveness, subsidies, school or deferment periods, capitalization, taxes and servicer payment allocation are excluded. Verify actual payments and options with your servicer and Federal Student Aid. Defaults are illustrative.

Federal Student Aid: https://studentaid.gov/understand-aid/types/loans/interest-rates

Federal Student Aid: https://studentaid.gov/repayment-calculator/