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Student Loan Calculator

Calculate your monthly student loan payment, total interest, and total repayment cost.

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About this calculator

Calculate your monthly student loan payment, total interest paid, and total repayment cost over the life of the loan.

How to use

  1. Enter your loan amount, annual interest rate, and loan term in years.
  2. Press Calculate to see your monthly payment, total interest, and total amount repaid.

Formula

Monthly Payment = P × r(1+r)ⁿ ÷ [(1+r)ⁿ − 1] where P = loan amount, r = monthly interest rate, n = number of monthly payments