United States · student loan planning
What will my student loan really cost to repay?
Monthly payment is only one part of the decision. Estimate the scheduled payment and total interest, then test how an extra payment or an income-based assumption changes the path.
Fixed-rate amortization estimate Income case is a planning proxy 7 calculators inside
Your situation
Which student-loan decision are you making?
Start with the scheduled plan, then switch to extra payments or an income-based planning screen. Compare official plan terms before enrolling.
That's not my case
Fine-tune the estimate
Your loan details
Use the current principal and note rate from your statement. The income fields are only used for the planning case and do not determine official eligibility.
Informational estimate. Federal and private student-loan repayment plans have their own definitions, certifications, capitalization rules, forgiveness provisions and servicer practices. Check StudentAid.gov and your loan documents before acting.
How the total adds up
Repayment breakdown
Use the scheduled case as a baseline, then compare the cash-flow and interest effect of an extra or income-based scenario.
The baseline shows how much of the entered schedule is principal, interest and potential interest avoided.
What if it changes?
Quick answer
What applies to you
What's included
Watch out for this
Deadline:
Frequently asked questions
How is a student-loan payment calculated?
A fixed-rate amortizing payment depends on the balance, annual interest rate and number of monthly payments. Real plans can add rules that a simple formula does not capture.
Does paying extra reduce interest?
Usually, reducing principal earlier reduces the balance on which future interest accrues. Confirm that the servicer applies the extra amount to principal.
Can I pay off student loans early?
Many federal and private loans allow early repayment without a prepayment penalty, but check the specific loan agreement and servicer instructions.
Is the income-based result an official payment?
No. It is a transparent planning proxy using your entered income, family size, exemption and percentage. Official plans use their own formula and documentation.
Why can a lower monthly payment cost more?
A lower payment can stretch repayment over more time, allowing interest to accrue for longer. Compare total interest and payoff date, not payment alone.
Does this include loan forgiveness?
No. Forgiveness depends on the plan, employer, payment history, certification, qualifying employment and rules that can change.
Should I refinance federal student loans?
Compare the rate reduction with the federal protections you may give up, such as income-driven options, deferment or forgiveness pathways.
Where can I check my official options?
Use your servicer statement and the U.S. Department of Education’s StudentAid.gov tools and plan information.
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