Student Loan Calculator
Sep 05, 2025
How to use this calculator
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Input the following information and click “Calculate.”
Type in your loan amount, repayment term and interest rate to see what your estimated monthly payment will be and how much you'll pay in total interest.
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Click “Compare loan rates.”
See what rates and terms other lenders offer.
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Click “Show amortization schedule.”
Review how each monthly student loan payment is applied throughout your loan.
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Click “Add extra payments.”
If you plan on making extra payments, add them here to see how much time and money you'll save.
There are many differences between federal and private loans. Federal loans have fixed rates that are the same for every borrower regardless of their credit. Private lenders will base your rate on your or your cosigner's credit profile.
How to make the most of this calculator
Apply the results to your situation
- Compare student loan lenders to find the interest rate, loan amount and repayment term that best meet your needs.
- Develop a repayment strategy that includes extra payments, if you're able to make them.
- Input different loan term options until you get the monthly payment that best fits your budget.
Money tip: Longer repayment terms may lower monthly payments, but this often means you will pay more interest in the long run.
What is a good student loan interest rate?
The best student loan interest rate is the lowest interest rate. A good student loan interest rate is one that is toward the lower end of a lender's range, typically in the single digits. But rates will depend on the loan type, lender, type of interest rate and the borrower's or cosigner's credit score.
Tips for lowering your student loan interest rate:
- Improve your credit score by paying down debt and making on-time payments
- Use a cosigner with a strong credit profile
- Sign up for autopay, as many lenders provide a discount for doing so
- Refinance your student loans if it makes sense for your situation
Next steps for student loans
Continue on with the next step of your student loan journey with these helpful guides and tips.
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Learn how to fill out the Free Application for Federal Student Aid (FAFSA) and see what assistance you can get from the government before seeking out private loans.
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Read student loan lender reviews, pros and cons and qualification requirements to help you compare and decide which lender is best for you.
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Understand the process of getting a student loan and know what you should consider before applying.
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Set yourself up for success from the get-go by setting up accounts and payments, creating a budget and understanding your terms.
Other student loan calculators
Bankrate's collection of calculators for college students and graduates provides assistance for all your different needs, including managing your student loans and your student budget.
Student loan refinance calculator
This calculator helps you determine whether a student loan refinance is the best option for your financial goals.
Student budget calculator
Current students can use this calculator to help budget for their school year expenses, including tuition, school supplies and living expenses.
Student loan resources
5 fastest ways to repay your college loans
How can you get out from under that debt quickly? Here are five of the fastest ways to pay off that student loan.
What to do when you can't pay student loan
If you are having trouble making your student loan payments, there are options to help you cover the debt. Learn how to avoid defaulting on loan debt.
6 things to know about private student loans
Learn about all the options available before taking out a private student loan. Here is what you need to know about private student loans.
Find and compare student loans
Compare loan rates and terms from various lenders to find the loan that best fits your needs.