Student Loan Calculator

Use our free student loan calculator to estimate monthly payments under different repayment plans. Compare Standard, Extended, Graduated, and Income-Based Repayment plans for federal and private student loans.

Financial

Currency

Repayment Plan

Total Loan Amount

Annual Interest Rate (%)

Standard Repayment Term (years)

years

Grace Period (months)

months

Annual Income (for IBR)

Extended Term (years)

years

Formula

Student loans offer multiple repayment plans. The Standard plan has fixed payments over 10 years, Extended plans stretch payments up to 25 years, Graduated plans start low and increase, and Income-Based Repayment caps payments at 15% of discretionary income.

M = P[r(1+r)^n] / [(1+r)^n - 1]

Percentage: The percentage value you want to apply

Number: The original number or value

Result: The calculated result

How It Works

1Enter your total student loan amount and interest rate.
2Select the repayment plan you want to compare.
3Standard uses a fixed monthly payment for the chosen term.
4Extended stretches payments over a longer period (up to 25 years).
5Graduated starts with lower payments that increase every 2 years.
6Income-Based caps payments at 15% of discretionary income (income minus 150% of poverty line).

Examples

$35,000 at 5.5%, Standard 10-year plan

1.Monthly rate r = 5.5% / 12 = 0.4583%
2.Number of payments n = 10 x 12 = 120
3.Monthly payment = $379.86
4.Total payment = $45,583, Total interest = $10,583

Result: $379.86

$35,000 at 5.5%, Income-Based (IBR)

1.Discretionary income = $50,000 - $15,000 (150% poverty) = $35,000
2.Annual payment = $35,000 x 15% = $5,250
3.Monthly payment = $5,250 / 12 = $437.50

Result: $437.50

Frequently Asked Questions

A fixed monthly payment over 10 years that ensures the loan is fully paid off by the end of the term.

IBR caps monthly payments at 15% of discretionary income (income minus 150% of the poverty line). Any remaining balance after 20-25 years may be forgiven.

A period after graduation (typically 6 months) before repayment begins. Interest may still accrue during this time.

Yes, federal student loan borrowers can switch repayment plans at any time, though some plans have eligibility requirements.

Missing payments leads to delinquency and eventually default, which damages credit and can result in wage garnishment.

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Student Loan Repayment Guide

CalculateMe Team

Last updated: 2026-07-15

How It Works

1Enter your total student loan amount and interest rate.

2Select the repayment plan you want to compare.

3Standard uses a fixed monthly payment for the chosen term.

4Extended stretches payments over a longer period (up to 25 years).

5Graduated starts with lower payments that increase every 2 years.

6Income-Based caps payments at 15% of discretionary income (income minus 150% of poverty line).

Examples

$35,000 at 5.5%, Standard 10-year plan

1.Monthly rate r = 5.5% / 12 = 0.4583%
2.Number of payments n = 10 x 12 = 120
3.Monthly payment = $379.86
4.Total payment = $45,583, Total interest = $10,583

Result: $379.86

$35,000 at 5.5%, Income-Based (IBR)

1.Discretionary income = $50,000 - $15,000 (150% poverty) = $35,000
2.Annual payment = $35,000 x 15% = $5,250
3.Monthly payment = $5,250 / 12 = $437.50

Result: $437.50

Frequently Asked Questions

A fixed monthly payment over 10 years that ensures the loan is fully paid off by the end of the term.

IBR caps monthly payments at 15% of discretionary income (income minus 150% of the poverty line). Any remaining balance after 20-25 years may be forgiven.

A period after graduation (typically 6 months) before repayment begins. Interest may still accrue during this time.

Yes, federal student loan borrowers can switch repayment plans at any time, though some plans have eligibility requirements.

Missing payments leads to delinquency and eventually default, which damages credit and can result in wage garnishment.

Student Loan Calculator

Formula

How It Works

Examples

$35,000 at 5.5%, Standard 10-year plan

$35,000 at 5.5%, Income-Based (IBR)

Frequently Asked Questions

What is the standard repayment plan?

How does income-based repayment work?

What is a grace period?

Can I switch repayment plans?

What happens if I don't make payments?

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Student Loan Calculator

Formula

How It Works

Examples

$35,000 at 5.5%, Standard 10-year plan

$35,000 at 5.5%, Income-Based (IBR)

Frequently Asked Questions

What is the standard repayment plan?

How does income-based repayment work?

What is a grace period?

Can I switch repayment plans?

What happens if I don't make payments?

Related Calculators

Related Articles