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A student loan calculator determines your monthly payment, total interest paid, and payoff timeline based on loan amount, interest rate, and repayment term. Federal and private student loans differ significantly in interest rates, repayment options, and forgiveness eligibility.
Guide étape par étape
- 1Identify loan amount, annual interest rate, and repayment term (years)
- 2Calculate monthly interest: annual rate ÷ 12
- 3For unsubsidized loans, interest accrues during grace period (usually 6 months)
- 4Monthly payment formula: M = P × r(1+r)ⁿ / ((1+r)ⁿ − 1)
- 5Total interest = (monthly payment × months) − total loan amount
Exemples résolus
Entrée
$30,000 at 6.5%, 10-year term
Résultat
$340/month, $10,836 interest
Standard 10-year federal repayment
Entrée
$50,000 at 7.0%, 20-year term
Résultat
$388/month, $43,191 interest
Longer term = lower payment but much more interest
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