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Smart Financial Calculators

Student Loan Calculator: Payment & Payoff Date

Work out your student loan monthly payment, payoff date and total interest, and how much paying extra each month saves.

On a standard plan the payment is fixed, so the loan is paid off by the end of the term. Early payments are mostly interest; later ones are mostly principal.

Frequently asked questions

What is the monthly payment on $30,000 of student loans?

At 6.8% over 10 years, about $345 a month, with about $11,400 of interest in total.

Should I pay off student loans early?

Paying extra saves interest, especially on higher-rate private loans. If you're aiming for Public Service Loan Forgiveness, paying extra on federal loans may not help.