Calculate student loan payments for federal and private loans. Includes grace period, capitalized interest, and total repayment cost over 10–25 year terms.
Student loans are a reality for millions of borrowers. Understanding the repayment obligation — how much the payment may be, how long it takes to repay, and how grace-period interest can change the starting balance or total cost — is the first step toward managing education debt sensibly.
Grace-period treatment depends on the loan and program. Some loans have no grace-period interest, some accrue interest that later capitalizes, and others accrue interest that remains outside principal unless a specific event or loan term triggers capitalization. This calculator makes that treatment explicit instead of assuming every loan works the same way.
Enter the starting balance, interest rate, repayment term, and grace-period treatment to see the payment, repayment cost, and any accrued grace-period interest. The result is a planning worksheet for fixed-payment student debt, not a servicer quote or an income-driven repayment simulator.
This page is useful when you want a clear fixed-payment estimate before borrowing more, refinancing, or exiting school. It shows how the grace period, interest treatment, and repayment term combine to change the starting balance and total cost.
Grace-Period Interest Approximation = Principal × (annual rate / 12) × grace months. If that interest capitalizes, Repayment Balance = Principal + Grace Interest. Monthly Payment M = Balance × r/12 × (1+r/12)^n / ((1+r/12)^n − 1). Total Cost depends on whether accrued grace interest is added to principal or tracked separately.
Result: $390/mo — about $11,835 total interest — about $46,835 total cost
A $35,000 loan at 5.5% with 6 months of interest that is added to principal accrues about $963 during the grace period. That makes the repayment starting balance about $35,963. Over 10 years, the payment is about $390/month and the total interest paid versus the original balance is about $11,835.
Federal and private education loans can differ on grace periods, interest treatment, borrower protections, and repayment flexibility. This calculator focuses only on the fixed-payment math, so plan-specific features should still be checked against the promissory note or servicer guidance.
A 10-year repayment on a fixed-balance loan usually costs much less in total interest than a 20-year path, but the longer term lowers the required payment. Use the worksheet to see that trade-off before choosing a longer schedule simply for short-term relief.
Make extra principal payments when your servicer allows it, apply windfalls deliberately, and compare any refinance or consolidation offer against the cost of simply accelerating the current loan. Small recurring overpayments can still make a noticeable difference over time.
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This page models a fixed-payment student-loan repayment path from the entered balance, rate, term, and grace-period assumptions. Grace-period interest is approximated with a simple monthly accrual, then either added to principal or left outside principal based on the selected treatment before the standard amortization formula is applied to the repayment balance.
It is a planning worksheet rather than a servicer quote or an income-driven repayment simulator. Program-specific grace rules, capitalization triggers, tax treatment, forgiveness options, and servicer policies can differ from this simplified fixed-payment model.
A grace period is the time between leaving school or dropping below the required enrollment level and the point when scheduled repayment begins. The existence of a grace period and the interest treatment during it depend on the loan and program.
Capitalization means unpaid interest is added to principal, so future interest is calculated on the higher balance. This page lets you compare that scenario with one where accrued interest stays outside principal.
In general, subsidized structures shield the borrower from some interest accrual during qualifying periods, while unsubsidized structures usually leave more of the interest burden with the borrower. The exact rules depend on the loan program and promissory note.
That depends on the repayment structure. This page models fixed-term repayment, so extending the term lowers the payment but raises total interest.
Possibly, but eligibility and limits depend on current tax rules and your income. Use current IRS guidance or a tax professional for the deduction question rather than relying on a fixed rule-of-thumb.
That depends on the loan rate, your emergency reserves, employer retirement match, and risk tolerance. This page is for payment modeling, so investment decisions should be compared separately using your full household plan.