Student Loan Calculator

Compare student loan repayment plans. Calculate monthly payments for Standard, Graduated, and Income-Driven plans. See how extra payments save money.

Total Loan Balance ($)

$1,000$200,000

Average Interest Rate (%)

1%15%

Annual Gross Income ($) — for Income-Driven & PSLF calculations

Repayment Plan Comparison

Plan	Monthly	Total Paid	Total Interest	Term
Standard (10-Year) Cheapest Overall	$379.84	$45,581	$10,581	10 yr
Graduated	$227.91	$53,080	$18,080	10 yr
Extended (25-Year)	$214.93	$64,479	$29,479	25 yr
Income-Driven (IDR) Lowest Monthly	$186.75	$56,025	$39,118	25 yr

Extra Payment Impact (Standard 10-Year Plan)

+$50/mo

extra payment

Interest Saved$1,672

Time Saved1yr 5mo

Payoff In8yr 7mo

+$100/mo

extra payment

Interest Saved$2,880

Time Saved2yr 7mo

Payoff In7yr 5mo

+$200/mo

extra payment

Interest Saved$4,514

Time Saved4yr 1mo

Payoff In5yr 11mo

Public Service Loan Forgiveness (PSLF)

Eligible for PSLF (Federal loan)

After 120 qualifying payments (10 years) while working for a qualifying employer, remaining balance may be forgiven.

IDR Payment

$186.75

Est. Forgiven

$18,365

Federal Student Loan Rates (2024-2025)

Undergraduate Direct: 6.53%

Graduate Direct: 8.08%

Direct PLUS: 9.08%

Private (varies): 3-15%+

Income-Driven Repayment (IDR) calculates payment as 10% of discretionary income (income above 150% of federal poverty guideline). Remaining balance may be forgiven after 20-25 years.

How to Use Student Loan Calculator

1Enter your loan balance and interest rate
2Select a repayment plan type
3View monthly payments and total cost
4Try the extra payment simulator

Frequently Asked Questions

Which student loan repayment plan is best?▾

The Standard plan has the lowest total cost but highest monthly payment. Income-Driven plans have lower monthly payments but higher total cost. Choose based on your current financial situation.

How much can I save with extra payments?▾

Even $50-100 extra per month can save thousands in interest and shorten your loan term by years. Use our simulator to see the exact impact.

What is Public Service Loan Forgiveness?▾

PSLF forgives remaining federal loan balance after 120 qualifying payments while working for a qualifying employer (government, non-profit). You must be on an income-driven plan.

About Student Loan Calculator

Compare student loan repayment plans. Calculate monthly payments for Standard, Graduated, and Income-Driven plans. See how extra payments save money.

NexTool's Student Loan Calculator is completely free to use with no sign-up required. Your data is processed directly in your browser and never sent to our servers, ensuring complete privacy and instant results.