Student Loan Payment Calculator
Calculate your monthly payments under standard federal repayment plans and understand which option fits your budget.
Note
This calculator provides estimates for standard federal repayment plans. For income-driven repayment options, use our IDR Calculator.
Calculator assumptions and limits
These tools provide planning estimates only. Your loan servicer and StudentAid.gov determine your final eligibility, payment amount, due date, and forgiveness credit.
Show calculation assumptions
- Standard, graduated, and extended estimates use amortization formulas and the loan balance, interest rate, and term you enter.
- The calculator does not include late fees, unpaid interest capitalization, autopay discounts, collection costs, or private-loan terms.
- Federal loan availability can depend on loan type, consolidation history, and servicer records.
Official sources to verify before acting
- Federal Student Aid repayment plans
Official federal repayment plan overview.
- Federal Student Aid Loan Simulator
Official payment comparison and repayment planning tool.
How to Use This Calculator
Enter Loan Balance
Input your total federal student loan amount
Add Interest Rate
Use your servicer rate or the current federal rate for your loan type
Compare Plans
View monthly payments for each repayment option
Choose Best Plan
Select the plan that fits your budget and goals
Understanding Your Repayment Options
Standard 10-Year Repayment
Default Plan • Fastest Payoff • Least Interest
Best For:
- • Borrowers who can afford higher payments
- • Those wanting to pay loans off quickly
- • People planning major purchases (home, car)
Key Features:
- • Fixed monthly payment for 10 years
- • No income documentation required
- • Eligible for all loan types
Example: $35,000 loan at 6.5% interest = $398/month
Standard 20-Year Repayment
Extended Term • Lower Payments • More Interest
Best For:
- • Loans over $30,000 (eligibility requirement)
- • Borrowers needing lower monthly payments
- • Those with other financial priorities
Key Features:
- • Fixed payment for 20 years (no acceleration)
- • Payments never increase over time
- • Must have outstanding balance over $30,000
Example: $35,000 loan at 6.5% interest = $261/month
Graduated Repayment
Starts Low • Increases Over Time • 10-Year Term
Best For:
- • Expecting income to increase steadily
- • Recent graduates with entry-level salaries
- • Those anticipating promotions/raises
Key Features:
- • Payments increase every 2 years
- • Starts at ~50% of standard payment
- • Never exceeds standard 10-year payment
Example: $35,000 loan at 6.5% interest = $198/month (Year 1) → $475/month (Year 10)
Extended Repayment
25-Year Term • Lowest Payments • Highest Total Interest
Best For:
- • Loans over $30,000 (eligibility requirement)
- • Borrowers needing maximum payment relief
- • Those with limited current income
Key Features:
- • Fixed or graduated options available
- • Payments spread over 25 years
- • Results in 2.5x more total interest vs. 10-year
Example: $35,000 loan at 6.5% interest = $237/month (fixed) or $145/month (graduated start)
Frequently Asked Questions
Looking for more detailed information? Check out our comprehensive guides on loan consolidation vs refinancing and forgiveness programs.
What interest rate should I use?
Check your loan servicer account for your exact rates. For federal Direct Loans:
- • Undergraduate loans: 6.52% (2026-27 academic year)
- • Graduate/professional Direct Unsubsidized: 8.07%
- • PLUS loans: 9.07%
If you have multiple loans with different rates, use a weighted average or calculate each separately.
Can I change my repayment plan later?
Yes! You can change your federal repayment plan at any time through StudentAid.gov or by contacting your loan servicer. There's no fee to switch, and you can change plans as often as needed.
Note: Switching from graduated back to standard may reset your payment schedule.
Which plan saves the most money?
The Standard 10-Year plan always saves the most money overall because you pay the least interest. Here's a comparison on a $35,000 loan at 6.5%:
- • Standard 10-Year: $398/month → $47,700 total
- • Standard 20-Year: $261/month → $62,600 total
- • Graduated: $198-$475/month → ~$52,000 total
- • Extended: $145/month → ~$73,000 total
However, if the standard payment is too high for your budget, an IDR plan might be better.
What if I can't afford any of these payments?
If standard repayment plans don't fit your budget, compare income-driven repayment (IDR) plans, which can base payments on income and household details:
- • RAP: 1-10% of AGI, reduced by $50 per dependent, with a minimum payment
- • PAYE/IBR: 10-15% of discretionary income if eligible
- • ICR: 20% of discretionary income or an alternate fixed-payment formula
IDR forgiveness timelines vary by plan, and non-PSLF forgiveness may have tax consequences.
Do these plans apply to private student loans?
No. This calculator covers federal student loan repayment plans only. Private loans have different terms set by each lender.
If you have both federal and private loans, you may want to focus on federal loans first (more flexible options) or consider refinancing private loans to potentially lower rates.
What happens if I miss a payment?
Missing payments can lead to delinquency (after 90 days) and default (after 270 days). Default has serious consequences:
- • Loss of repayment plan options
- • Wage and tax refund garnishment
- • Seizure of tax refunds
- • Damage to credit score
If you're struggling, contact your servicer immediately or switch to an IDR plan before missing payments.
Need Lower Payments?
If standard repayment plans don't fit your budget, explore income-driven repayment options based on your income and family size.