Student loan calculator
Updated Updated for 2026 tax law
Compare fixed student loan repayment plans — the 10-year standard plan, the new balance-based standard plan for loans from July 1, 2026, and the 25-year extended plan — and see how extra payments shorten your payoff.
Fixed-payment math only. Income-driven plans (IBR, the new Repayment Assistance Plan) set payments from your income instead — use the Loan Simulator on StudentAid.gov for those.
Amortization schedule (120 payments)
| Year | Ends | Paid | Principal | Interest | Balance |
|---|---|---|---|---|---|
| 1 | Nov 2027 | $4,769.04 | $2,569.70 | $2,199.34 | $32,430.30 |
| 2 | Nov 2028 | $4,769.04 | $2,741.79 | $2,027.25 | $29,688.51 |
| 3 | Nov 2029 | $4,769.04 | $2,925.44 | $1,843.60 | $26,763.07 |
| 4 | Nov 2030 | $4,769.04 | $3,121.35 | $1,647.69 | $23,641.72 |
| 5 | Nov 2031 | $4,769.04 | $3,330.38 | $1,438.66 | $20,311.34 |
| 6 | Nov 2032 | $4,769.04 | $3,553.44 | $1,215.60 | $16,757.90 |
| 7 | Nov 2033 | $4,769.04 | $3,791.42 | $977.62 | $12,966.48 |
| 8 | Nov 2034 | $4,769.04 | $4,045.32 | $723.72 | $8,921.16 |
| 9 | Nov 2035 | $4,769.04 | $4,316.24 | $452.80 | $4,604.92 |
| 10 | Nov 2036 | $4,768.66 | $4,604.92 | $163.74 | $0.00 |
How to use the student loan calculator
- Enter your total balance and interest rate (use a weighted average if you have several loans — or run each loan separately).
- Pick a plan: Standard 10-year, New standard (term set by balance), Extended 25-year, or Custom for a private or refinanced loan.
- Add an extra monthly amount to see how much interest and time you save.
- Compare all fixed plans in the table and open the schedule for every payment.
Plan terms and the payment formula
P = amount borrowed · i = annual rate ÷ 12 · n = number of monthly payments
Each month: interest = balance × i · principal = M − interest · new balance = balance − principal
| Plan | Term | Who it's for |
|---|---|---|
| Standard | 10 years | Default plan for existing Direct Loans; $50 minimum payment |
| New standard (tiered) | 10–25 years by balance | Loans first disbursed on or after July 1, 2026: under $25,000 → 10 yrs; $25,000–$49,999 → 15; $50,000–$99,999 → 20; $100,000+ → 25 |
| Extended (fixed) | Up to 25 years | Existing borrowers with more than $30,000 in Direct Loans |
Payments by balance at 6.5%
| Balance | Standard 10-yr | Interest | New standard | Extended 25-yr | Interest |
|---|---|---|---|---|---|
| $10,000 | $113.55 | $3,626 | $113.55 (10 yr) | — | Needs over $30k |
| $20,000 | $227.10 | $7,251 | $227.10 (10 yr) | — | Needs over $30k |
| $30,000 | $340.64 | $10,877 | $261.33 (15 yr) | — | Needs over $30k |
| $50,000 | $567.74 | $18,129 | $372.79 (20 yr) | $337.60 | $51,283 |
| $75,000 | $851.61 | $27,193 | $559.18 (20 yr) | $506.41 | $76,920 |
| $100,000 | $1,135.48 | $36,258 | $675.21 (25 yr) | $675.21 | $102,561 |
Important notes on federal repayment changes
- Income-driven plans are being restructured under the 2025 law. A new income-based Repayment Assistance Plan (RAP) became available on July 1, 2026, and older income-driven plans are being phased out on a schedule. This calculator does not estimate income-driven payments.
- Which plans you can use depends on when your loans were disbursed and whether you take out new loans or consolidate after July 1, 2026.
- Federal loans charge simple daily interest; a monthly-rate schedule like this one is a close approximation.
- Refinancing federal loans into a private loan gives up federal protections such as income-driven plans, deferment and forgiveness programs.
Disclaimer: Estimates for information only — not financial, lending or legal advice. Your lender's Loan Estimate and disclosures are the binding numbers. Confirm your plan options and payment with your loan servicer or the Loan Simulator on StudentAid.gov.
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Frequently asked questions
How is a standard student loan payment calculated?
It's a fixed payment that repays the balance with interest over 10 years (120 payments), using the same formula as any amortizing loan, with a $50 monthly minimum. For $35,000 at 6.5%: $397.42 a month and $12,690 of interest.
What is the extended repayment plan?
Fixed payments over up to 25 years, available if you owe more than $30,000 in Direct Loans. For $35,000 at 6.5% it lowers the payment to $236.32 but raises total interest to $35,898. It isn't available for loans made on or after July 1, 2026.
What changed for student loans in 2026?
The 2025 budget law (the One Big Beautiful Bill Act) gave federal loans made on or after July 1, 2026 a new standard plan with a 10- to 25-year term based on how much you owe, plus a new income-based Repayment Assistance Plan (RAP). Older plans are being phased out on a schedule. Check StudentAid.gov for which plans your loans qualify for.
Does this calculator include income-driven repayment?
No. Income-driven payments depend on your income, family size and plan rules that are changing, so this tool sticks to fixed-payment math. Use the Loan Simulator on StudentAid.gov for IBR or RAP estimates.
Should I pay extra on my student loans?
Extra payments go to interest first, then principal, and cut total interest — and there's no prepayment penalty on federal or most private student loans. If you're pursuing Public Service Loan Forgiveness, though, paying extra usually doesn't help.
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Estimates for information only — not tax, legal or financial advice.