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Calculate your student loan monthly payment and total repayment cost. Enter your loan balance, interest rate, and repayment term to plan your education debt.
Student loan payments follow the same amortization formula: M = P × [r(1+r)^n] / [(1+r)^n − 1]. For a $35,000 student loan at 5.5% APR on a standard 10-year repayment plan (120 months), the monthly payment is approximately $379.78, with a total repayment of $45,574 and $10,574 in interest. Federal loans in the US offer income-driven repayment plans that cap payments at 10%–20% of discretionary income, potentially extending the term to 20–25 years.
If your loan interest rate is above 6%–7%, paying it off early typically saves more than investing. If the rate is below 4%–5%, investing may yield higher long-term returns. Consider a balanced approach: make minimum payments and invest the difference.
The standard federal student loan repayment term in the US is 10 years (120 months). Extended plans can stretch to 25 years, and income-driven plans run 20–25 years with potential forgiveness of the remaining balance.
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