Student Loan Calculator — Plan Your Student Loan Repayment
Calculate monthly student loan payments under different repayment plans. Compare Standard Graduated Extended and Income-Driven options for federal and private loans.
Student loan debt in America totals over $1.77 trillion affecting 43.5 million borrowers. The average graduate carries $37000 in student loans. Understanding your repayment options is crucial as the difference between repayment plans can mean thousands of dollars saved and years of faster payoff. Our calculator helps you compare monthly payments across Standard Graduated Extended and Income-Driven repayment plans for both federal and private student loans.
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Key Information
| Parameter | Details |
|---|---|
| Average Student Loan Debt | $37000 (Class of 2025) |
| Federal Loan Rate (Undergrad) | 5.50% (2025-26) |
| Federal Loan Rate (Grad) | 7.05% (2025-26) |
| Standard Repayment Term | 10 years (120 payments) |
Plan your student loan repayment
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Use Calculator NowFrequently Asked Questions
What is the monthly payment for $30000 student loan?
Under the Standard 10-year repayment plan a $30000 federal student loan at 5.50% interest has a monthly payment of approximately $326. The total interest paid would be about $9120 making your total repayment $39120. Under an Income-Driven plan payments could be as low as $150-$200 per month but you would pay more total interest over 20-25 years.
Should I pay off student loans or invest?
If your student loan rate is below 6% and you can earn 8-10% investing mathematically investing comes out ahead. However student loan repayment gives guaranteed return equal to the interest rate and the psychological benefit of being debt-free. A balanced approach: pay the minimum on low-rate federal loans while investing aggressively and prioritize paying off any private loans with rates above 7-8%.
What is student loan forgiveness?
Public Service Loan Forgiveness (PSLF) forgives remaining federal loan balances after 120 qualifying payments while working for a qualifying employer like government or nonprofit organizations. Income-Driven Repayment forgiveness occurs after 20-25 years of payments. The SAVE plan caps payments at 5% of discretionary income for undergrad loans making it the most affordable option for many borrowers.
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Last updated: 24 March 2026