Student Loan Calculator
Estimate monthly payment, interest, payoff time, and an amortization schedule for a fixed-rate amortizing loan using the balance, rate, and term you enter. This is an educational estimate — it does not reproduce specific federal or private student-loan programs.
Loading calculator…
How this calculation works
MVP supports a standard plan only: a fixed-rate amortizing loan over the months you enter, using the shared amortization formula.
If you enter an optional monthly payment greater than that standard payment, the tool simulates an accelerated fixed-payment payoff under the same monthly interest rules. That scenario is not a federal repayment plan.
Unsupported plan names (for example income-driven repayment) return an error instead of inventing government formulas.
Assumptions
- Fixed nominal annual rate converted to a monthly rate ÷ 12.
- Standard path uses the contractual amortizing payment over the entered term.
- Accelerated path uses a constant optional payment until the balance is paid (final payment capped).
- No fees, deferment, forbearance, or refinancing modeled.
Limitations
- Does not implement IDR, forgiveness, capitalization, subsidies, or eligibility rules.
- Not official federal or loan-servicer tooling.
- Results are based on the assumptions entered — not a claim that one plan is better for you.
Frequently asked questions
- Can I model SAVE, PAYE, or IBR here?
- No. Those programs need rules that are not fully specified and sourced for this MVP. Choosing an unsupported plan returns an error rather than inventing IDR math.
- What does the optional higher payment do?
- If it exceeds the standard amortizing payment for your term, the calculator runs a fixed-payment payoff simulation and shows a shorter schedule. It is labeled an accelerated scenario — not a federal plan.
Related calculators
Related reading
- How student loan amortization works — Standard fixed-rate schedules and why unsupported plans error.
- Debt snowball vs avalanche
- Methodology