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Student Loan Calculator - Payments & Payoff (2026)

Estimate student loan payments, total interest and payoff time. Free student loan calculator with extra payment comparison.

Your inputs

Loan balance ($)

Interest rate (%)

Loan term (years)

Extra payment / month ($)

Extra payments target the highest-rate loan first.

Monthly payment

$333

Payoff time

8 yrs 2 mo

Total interest

$9,600

Interest saved

$1,800

FAQ

How much will my student loan payment be?

Use the amortization formula on your balance, rate and term. A $30,000 loan at 6% over 10 years is about $333/month.

What is the federal interest rate?

Federal rates for 2025–26 are around 5.5% for undergrad and 7%+ for graduate loans. Private rates vary by credit.

Should I pay extra?

Extra payments cut years off and save interest. A $50/month extra on a 10-year loan can save thousands.

Should I refinance?

Refinancing federal loans loses benefits (forgiveness, deferment). Compare the interest saved against those protections.

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