Everyday tool · ≈ 2 min · Student loans
Student Loan Payment Calculator
See the monthly payment and total cost of a student loan at any balance, rate, and term.
Federal standard is 10 years.
Showing example defaults — change any input to use your own
Payment estimate
Estimated monthly payment
$397
$35,000 at 6.5% over 10 years costs $397/month — $12,690 of interest for a total of $47,690. Shorter terms cost more monthly and meaningfully less in total.
- Total interest
- $12,690
- Total of all payments
- $47,690
- Interest as a share of the loan
- 36%
Balance by year
View data table
| Balance | |
|---|---|
| Yr 0 | $35K |
| Yr 1 | $32K |
| Yr 2 | $30K |
| Yr 3 | $27K |
| Yr 4 | $24K |
| Yr 5 | $20K |
| Yr 6 | $17K |
| Yr 7 | $13K |
| Yr 8 | $8.9K |
| Yr 9 | $4.6K |
| Yr 10 | $0 |
What this may mean for you
If this payment doesn't fit a federal loan's budget, look at income-driven repayment before stretching the term or refinancing — IDR sizes payments to income and keeps federal protections that private refinancing permanently gives up. For loans you intend to pay off, the Extra Payment calculator shows what acceleration buys.
Results are estimates for educational purposes and may not reflect your complete financial or tax situation.
Understanding this calculator
Federal loans default to a 10-year standard schedule; private loans commonly run 5–20. The payment formula is ordinary amortization, but the planning question is the trade it encodes: shorter terms cost more per month and far less in total, and this calculator makes that trade concrete for your actual numbers.
If a federal loan's standard payment doesn't fit your budget, look at income-driven repayment before extending the term or refinancing — IDR plans size payments to income and preserve federal protections that private refinancing permanently gives up.
Assumptions and methodology
- Standard amortization: level payments at your rate over the chosen term.
- Federal income-driven plans, interest subsidies, and forgiveness programs are not modeled — payments under those plans depend on income and family size.
Official sources
Last reviewed August 30, 2026. Year-specific figures show their tax or data year in the tool; data is reviewed when the IRS, SSA, and CMS publish annual updates.
Common questions
Are federal and private loans calculated differently?
The interest math is the same; the surrounding rules aren't. Federal loans carry income-driven options, deferment, and potential forgiveness. This calculator shows the amortization either way.
Next step
See how this fits your whole retirement
One number is a start. The plan builder puts income, spending, savings, and taxes together year by year — free, no account, and every answer can be changed later.
Keep going
- Student Loan ExtrasSee what an extra monthly amount does to your student-loan payoff date and total interest.Calculator
- Payoff TimelineWatch your balance fall year by year, with the milestones — halfway paid, final year, done — on a timeline.Calculator
- Student Loan RefiCompare your current loan with a refinance offer — including fees, term changes, and what federal borrowers give up.Calculator
Want a professional's take? Downshift can introduce you to a financial advisor, CPA, or retirement planner who can talk through what these numbers mean for you — free to you, no obligation.
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