Student Loan Payment Calculator
The default federal student loan plan spreads your balance over 10 years at a fixed rate. This calculator shows the monthly payment and total interest for any balance, rate, and term.
How this calculator works
The calculator uses fixed-rate amortization: your balance is spread across the term so every payment is identical, with interest calculated monthly on the remaining balance. The 10-year standard plan is the default federal option; longer terms cut the payment but add interest, and refinancing can lower the rate for well-qualified borrowers.
Frequently asked questions
What is the standard repayment plan?
The standard plan is the default for federal student loans: a fixed payment that pays off the loan in 10 years (10 to 30 years for consolidated loans, depending on balance). You can always pay more than the minimum with no prepayment penalty.
Should I extend the term to lower my payment?
Only if you must. Extending from 10 to 20 years roughly halves the payment but roughly doubles the total interest — this calculator shows that trade-off directly. A more targeted fix is an income-driven plan, which caps payments at a share of discretionary income and forgives the remainder after 20–25 years.
Are federal student loan rates fixed?
Yes — rates are set each July for new loans and stay fixed for the life of that loan. If you have multiple loans with different rates, enter your weighted average (total interest ÷ total balance) for a close estimate.
Disclaimer: Results are estimates for general information only and do not constitute financial, tax, or legal advice. Figures reflect 2026 rules and may change. Always confirm current limits and consult a qualified professional before making decisions. Official figures: IRS.gov · 2026 limits per IRS tax inflation adjustments.