$390.41
$46,848.97
$11,848.97
$35,973.60
$164.88
$2,712.24
30
months
$390.41
$46,848.97
$11,848.97
$35,973.60
$164.88
$2,712.24
30
months
The Student Loan Calculator estimates your monthly payment, total cost, and interest for student loans, including the effect of a grace period during which interest accrues on unsubsidized loans. Whether you have federal student loans, private loans, or a combination, this calculator helps you plan your repayment strategy.
Student loan debt in the United States exceeds $1.77 trillion, affecting over 43 million borrowers. The average graduate carries approximately $37,000 in student loans, with monthly payments ranging from $200 to $500 under the standard 10-year repayment plan. Understanding the true cost of student loans — including interest that capitalizes during the grace period — is essential for post-graduation financial planning.
This calculator accounts for the grace period that most student loans provide after graduation (typically 6 months for federal loans). During this time, interest continues to accrue on unsubsidized loans and is added to the principal balance (capitalized) when repayment begins. This capitalization can add hundreds or thousands of dollars to your total repayment cost.
Federal student loans offer several advantages: fixed interest rates, income-driven repayment options, deferment and forbearance protections, and potential loan forgiveness programs (PSLF). Private loans may offer lower rates for excellent credit but lack these protections. Your repayment strategy should consider both the mathematical cost and the flexibility you might need.
Whether you are a prospective student evaluating borrowing decisions or a recent graduate planning your repayment, this calculator provides the financial clarity needed to make informed choices about your student debt.
The calculator first computes the balance after the grace period: Balance = Principal × (1 + r)^grace_months, where r is the monthly interest rate. This accounts for capitalized interest on unsubsidized loans.
Then the standard amortization formula is applied: PMT = Balance × r × (1+r)^n / ((1+r)^n − 1), where n is the repayment term in months.
If you have subsidized federal loans, the government pays interest during the grace period, so your balance remains unchanged. For unsubsidized loans, consider making interest-only payments during the grace period to prevent capitalization and reduce total cost.
Inputs
Results
$35,000 at 5.5% with 6-month grace period. Interest capitalizes to $35,972 before repayment starts.
Inputs
Results
$80,000 at 7% for 20 years. Grace period adds $2,829 to the balance. Total interest: $74,171.
For 2025-2026, direct subsidized and unsubsidized undergraduate loans are around 5.5%, graduate/professional loans around 7%, and PLUS loans around 8%. Rates are set annually.
A grace period is the time after leaving school (typically 6 months for federal loans) before repayment begins. On unsubsidized loans, interest accrues during this period and is added to your balance.
When unpaid interest is added to the principal balance. This happens after grace periods, deferment, or forbearance on unsubsidized loans. You then pay interest on the higher balance.
Federal plans (IBR, PAYE, REPAYE/SAVE) cap payments at 10-20% of discretionary income. Remaining balance is forgiven after 20-25 years. These are useful if your income is low relative to your debt.
Yes. Making even interest-only payments during grace prevents capitalization. On a $35,000 loan at 5.5%, paying ~$160/month during grace saves $1,000+ over the life of the loan.
Standard (10-year) has higher payments but the lowest total cost. Extended (25-year) reduces monthly payments by ~40% but roughly doubles total interest paid. Choose based on your income and financial goals.
Federal loans may be forgiven through Public Service Loan Forgiveness (PSLF, 120 qualifying payments), income-driven repayment forgiveness (20-25 years), or borrower defense to repayment claims.
Federal consolidation simplifies multiple loans into one payment with a weighted average rate. It can extend access to IDR plans but may increase total cost. Do not consolidate to lose PSLF progress.
Interest accrues daily on the outstanding principal at the daily rate (annual rate ÷ 365). On a $35,000 loan at 5.5%, that is about $5.27 per day or $160/month.
Yes, you can deduct up to $2,500 in student loan interest paid per year. The deduction phases out at higher income levels (MAGI above $75,000 single / $155,000 married filing jointly as of 2025).
Roboculator Team
The Roboculator Team explains calculations, planning tools, and practical formulas in clear language for real-life situations.
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