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- Total Loan Repayment
- Number of Payments
- Monthly Principal & Interest
- Monthly Interest Paid
- Total Interest Paid
How to Use the Calculator
Our student loan calculator shows you a breakdown of:
- Monthly interest: The total amount you’ll be paying on interest each month.
- Monthly principal and interest: The total amount you’ll be paying each month, including the principal AND the interest.
- Total interest paid over the course of the loan: The total amount you’ll be paying on interest over the course of the loan.
- Total loan repayment: The total amount you’ll be paying on the loan.
All you need to do is enter the values specific to your loan in the fields below and hit calculate.
It is assumed that the interest rate will remain the same over the course of the loan AND that the loan will be repaid in equal monthly installments.
This calculator doesn’t factor for inflation.
Understanding Your Student Loans
Student loans can be stressful.
We know from first-hand experience…
Figuring out how much you will be paying and how long you will be paying your loan is crucial to do before you decide to go to college.
We built this calculator to help you make an informed decision about your loans so you can minimize the stress that millions of Millenials are currently going through.
Learn about Student Loans
If you have any questions about student loans, you can refer to these posts:
- How Do Student Loans Work with My Credit?
- Student Loan Mistakes to Avoid
- Should I Consolidate My Student Loans?
And if these posts don’t answer your questions, don’t hesitate to send us an email.
If you are looking to figure out alternative repayment plans, such as income-based repayment or graduated repayment check out these calculators instead: