Finance
Loan payment
Estimate monthly payments and total interest.
Calculators / Finance / Student loan
Student loan calculator
Estimate payments and interest for a fixed-rate student loan.
On this page
Monthly payment333.06
Total interest9,967.38
Calculator controls
How to calculate
Estimate payments and interest for a fixed-rate student loan.
Monthly payment = principal*(apr/1200)/(1-(1+apr/1200)^(-months)); Total interest = principal*(apr/1200)/(1-(1+apr/1200)^(-months))*months-principal
Worked example
Loan balance: 30000; Annual interest (%): 6; Repayment term (months): 120.
Monthly payment: 333.06 ; Total interest: 9,967.38 .
Assumptions and limits
This fixed-payment model does not include income-driven repayment, subsidies, deferment, capitalization, forgiveness or country-specific programs.
Results are rounded for display; calculations use unrounded values. Read our calculation methodology.
Understanding the result
Estimate payments and interest for a fixed-rate student loan. The displayed figures use the inputs and formula shown on this page.
When this tool is useful
Use the student loan to compare a scenario, check an estimate, or verify a manual calculation.
Understanding your inputs
| Input | What to enter |
|---|---|
| Loan balance | Enter a number of at least 0.000001 and no more than 1000000000000. |
| Annual interest (%) | Enter a number of at least 0.000001 and no more than 100. |
| Repayment term (months) | Enter a number of at least 1 and no more than 1200. |
Frequently asked questions
What should I check before using the student loan result?
This fixed-payment model does not include income-driven repayment, subsidies, deferment, capitalization, forgiveness or country-specific programs.
Is this student loan result exact?
It is exact for the stated mathematical model and entered values. Real-world results can differ when rates, timing, fees, definitions or measurement conditions differ.