Student Loan Calculator
Calculate student loan from your own entered figures.
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Currency: Amounts are calculated in the currency you select; this site does not convert between currencies and does not use live exchange rates.
What this tool does
Calculate student loan from your own entered figures. Interest accrues monthly during deferment and capitalizes once at repayment (federal loans capitalize at specific events; this single-capitalization model matches the standard estimate). Fixed rate; standard level repayment.
How to use the Student Loan Calculator
- Enter or select loan amount.
- Enter or select annual interest rate (%).
- Enter or select repayment term (months).
- Enter or select in-school / grace deferment (months).
- Read the calculated result; change any measurement to compare alternatives.
Formula
during deferment the balance grows at rate/1200 per month with no payments and capitalizes once; the capitalized balance then amortizes over the repayment term
- amount
- Loan amount
- rate
- Annual interest rate (%)
- termMonths
- Repayment term (months)
- deferMonths
- In-school / grace deferment (months)
Interest accrues monthly during deferment and capitalizes once at repayment (federal loans capitalize at specific events; this single-capitalization model matches the standard estimate). Fixed rate; standard level repayment.
Worked example
For student loan calculator, the following measurements illustrate the exact method: Loan amount: 35000; Annual interest rate (%): 5.5; Repayment term (months): 120; In-school / grace deferment (months): 48.
Inputs
- Loan amount$35000
- Annual interest rate (%)5.5 %
- Repayment term (months)120
- In-school / grace deferment (months)48
Result
- Monthly payment in repayment$473.07
- Balance when repayment starts$43,590.77
- Interest capitalized during deferment$8,590.77
- Interest during repayment$13,178.16
- Total interest (deferment + repayment)$21,768.93
Results explained
- Monthly payment in repayment
- Monthly payment in repayment from the formula above. Interest accrues monthly during deferment and capitalizes once at repayment (federal loans capitalize at specific events; this single-capitalization model matches the standard estimate). Fixed rate; standard level repayment.
- Balance when repayment starts
- Balance when repayment starts from the formula above. Interest accrues monthly during deferment and capitalizes once at repayment (federal loans capitalize at specific events; this single-capitalization model matches the standard estimate). Fixed rate; standard level repayment.
- Interest capitalized during deferment
- Interest capitalized during deferment from the formula above. Interest accrues monthly during deferment and capitalizes once at repayment (federal loans capitalize at specific events; this single-capitalization model matches the standard estimate). Fixed rate; standard level repayment.
- Interest during repayment
- Interest during repayment from the formula above. Interest accrues monthly during deferment and capitalizes once at repayment (federal loans capitalize at specific events; this single-capitalization model matches the standard estimate). Fixed rate; standard level repayment.
- Total interest (deferment + repayment)
- Total interest (deferment + repayment) from the formula above. Interest accrues monthly during deferment and capitalizes once at repayment (federal loans capitalize at specific events; this single-capitalization model matches the standard estimate). Fixed rate; standard level repayment.
Frequently asked questions
during deferment the balance grows at rate/1200 per month with no payments and capitalizes once; the capitalized balance then amortizes over the repayment term
Interest accrues monthly during deferment and capitalizes once at repayment (federal loans capitalize at specific events; this single-capitalization model matches the standard estimate). Fixed rate; standard level repayment.
No. All numbers are entered by you or come from the dated reference table shown on this page; calculations run locally.
This is an estimate, not financial, tax or legal advice. Verify the inputs and output with official sources and a qualified professional.
Check period consistency, currency, percentage inputs and the assumptions: Interest accrues monthly during deferment and capitalizes once at repayment (federal loans capitalize at specific events; this single-capitalization model matches the standard estimate). Fixed rate; standard level repayment.