How is the standard monthly payment calculated?

The standard plan uses the fixed-rate amortization formula: M = P × [r(1+r)^n] / [(1+r)^n − 1], where P is the principal, r is the monthly interest rate (annual rate ÷ 12), and n is the total number of payments. Every payment is identical and fully pays off the loan at the end of the term.

How does the graduated repayment plan work?

Under a graduated plan, payments start lower than the standard amount and increase every 2 years. The initial payment covers at least the accruing interest so the balance never grows. The payment steps up by a fixed percentage each period, ensuring the loan is fully paid within the chosen term. Total interest is always higher than the standard plan.

Why is total interest higher on a graduated plan?

Because early payments are smaller, you pay down principal more slowly. Interest accrues on the remaining balance, so a higher balance in the early years means more interest accumulates over the life of the loan compared with making equal, larger payments from day one.

Does this calculator cover federal income-driven repayment plans?

No. Income-Driven Repayment plans (IBR, PAYE, SAVE) tie payments to your discretionary income and family size — not to the loan balance and rate alone. Use the Federal Student Aid Loan Simulator at studentaid.gov for income-driven estimates.

Can I use this for private student loans?

Yes. Private lenders also use standard amortization. Enter your loan balance, the lender's fixed annual rate, and the repayment term. Note that many private loans do not offer graduated repayment, so the standard plan tab will be the relevant one.

Student Loan Calculator

Enter your loan balance, interest rate, and term to see your monthly payment, total interest, and full repayment schedule — with standard or graduated plan options.

Loan Details

Loan Balance

Annual Interest Rate

Repayment Term (Years)

Repayment Plan

Standard

Fixed equal payments

Graduated

Payments rise every 2 yrs

Fill in the loan details on the left, then click Calculate.

Payment Summary

Standard Plan

Monthly Payment

—

Loan Balance

—

Total Interest

—

Total Repaid

—

Repayment Schedule Year-by-year

Year	Payment/Mo	Principal	Interest	Balance

Summary

Student Loan Calculator computes your monthly payment, total interest, and a year-by-year repayment schedule for both standard (fixed) and graduated repayment plans. Enter your loan balance, interest rate, and term to compare plan options side-by-side.

How it works

Standard plan uses classic loan amortization (fixed equal payments). Graduated plan starts at a lower payment that increases every 2 years, calculated so the loan is paid in full by the end of the term. Both calculations run entirely in your browser — no data is sent to any server.

Use cases

A recent graduate comparing the total cost of a standard 10-year repayment against a graduated plan that starts with lower payments.
A borrower refinancing private loans who wants to verify that the quoted monthly payment matches the loan terms before signing.
A student nearing graduation estimating future payments to decide whether to pursue income-driven repayment or pay off loans aggressively.
A financial aid advisor showing families the long-term interest cost difference between a 10-year and a 20-year repayment term.

Frequently Asked Questions

Last updated: 2026-05-23 · Reviewed by Nham Vu