Calculate your monthly student loan payments and visualize how extra payments slash interest costs.
Loan Information
Accelerate Payoff
Applied directly to principal
Repayment Summary
Monthly Payment$325.58Standard repayment
Total Interest$9,069
Interest Saved-$0
Total Cost Breakdown
About this calculator
Overview
Student loan repayment involves paying back the borrowed principal plus interest over a fixed period. Interest is typically calculated daily and compounded monthly.
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Pro Tips
Making even small extra payments early in the loan term has a massive impact due to compounding interest savings.
Look into income-driven repayment (IDR) plans if your monthly payments are too high relative to your income.
Consider refinancing only if you can get a significantly lower interest rate and are comfortable giving up federal protections.
Set up autopay; most lenders offer a 0.25% interest rate deduction for automatic payments.
