Precision Utility
Student Loan
Calculator
Direct Sub/Unsub Rate
6.53%
PLUS Loan Rate
9.08%
Estimate your monthly student loan payment in seconds. Enter your total loan balance, interest rate and repayment term to see your monthly payment, total interest paid and projected payoff date. Add extra monthly payments to compare how much time and money you can save by paying down your student loans faster. Works for federal Direct Loans, PLUS Loans and private student loans.
Loan Details
Estimated Monthly Payment
$0.00
Total Interest
$0
Total Cost
$0
Payoff Date
--
Loan Balance
$0
How the student loan calculator works
Start by entering your total student loan balance — the outstanding principal amount you owe. This can be a single loan or the combined total of multiple loans. Next, enter the annual interest rate on your loan. If you have multiple loans with different rates, use your weighted average rate for the most accurate estimate.
Select your repayment term using the year buttons. The standard federal repayment plan is 10 years, but extended plans can stretch to 25 years. Shorter terms mean higher monthly payments but significantly less total interest. Longer terms lower your monthly payment but increase the total cost of the loan.
The calculator uses the standard amortization formula to compute your fixed monthly payment. It also projects your payoff date based on the current month. If you enter an extra monthly payment amount, the calculator runs a second amortization to show how much time and interest you can save by paying more than the minimum each month.
Extra payments are applied directly to your principal balance, which reduces the amount of interest that accrues each month. Even small extra payments of $25 to $50 per month can shave years off your repayment timeline and save thousands in interest over the life of the loan.
What you need to know about student loan rates in 2025
Federal student loan interest rates are set annually by Congress and are fixed for the life of the loan. For the 2024-25 academic year, the rates are as follows:
Direct Subsidized Loans (undergraduate): 6.53% fixed. The government pays the interest while you're enrolled at least half-time and during the six-month grace period after graduation. These loans are available only to students who demonstrate financial need.
Direct Unsubsidized Loans (undergraduate and graduate): 6.53% for undergraduates and 8.08% for graduate students. Interest begins accruing from the day the loan is disbursed, regardless of enrollment status. Available to all eligible students regardless of financial need.
Direct PLUS Loans (parents and graduate students): 9.08% fixed. These loans require a credit check and carry the highest interest rate among federal student loans. They can cover the full cost of attendance minus other financial aid received.
Repayment plans play a major role in your monthly payment and total cost. The Standard Repayment Plan spreads payments evenly over 10 years and costs the least in total interest. Income-driven repayment (IDR) plans like SAVE, PAYE and IBR cap your monthly payment at a percentage of your discretionary income and forgive any remaining balance after 20 to 25 years of qualifying payments.
Public Service Loan Forgiveness (PSLF) forgives the remaining balance on Direct Loans after 120 qualifying payments while working full-time for a qualifying government or nonprofit employer. Borrowers pursuing PSLF should enroll in an income-driven plan to maximize the amount forgiven.
Frequently asked questions
How do I calculate my monthly student loan payment?
Enter your total loan balance, interest rate and repayment term into the calculator above. It uses the standard amortization formula to compute your fixed monthly payment, total interest and payoff date instantly. You can also add extra monthly payments to see how much faster you can become debt-free.
What are federal student loan interest rates for 2025?
For the 2024-25 academic year, Direct Subsidized and Unsubsidized Loans for undergraduates carry a fixed rate of 6.53%. Direct Unsubsidized Loans for graduate students are 8.08%. Direct PLUS Loans for parents and graduate students are 9.08%. These rates are set annually by Congress based on the 10-year Treasury note.
What is the standard repayment plan for student loans?
The Standard Repayment Plan sets fixed monthly payments over 10 years (120 months). This is the default plan for federal student loans and results in the least total interest paid. Monthly payments are typically higher than income-driven plans but you pay off the loan faster.
How much can I save by making extra student loan payments?
Extra payments go directly toward your principal balance, reducing the total interest you pay and shortening your repayment timeline. Even an extra $50 to $100 per month can save thousands in interest and cut years off a 10-year repayment plan. Use the calculator above to see your exact savings.
What is Public Service Loan Forgiveness (PSLF)?
PSLF forgives the remaining balance on Direct Loans after 120 qualifying monthly payments (10 years) while working full-time for a qualifying employer such as a government agency or nonprofit organization. You must be on an income-driven repayment plan to qualify.
Should I choose a standard or income-driven repayment plan?
The standard 10-year plan minimizes total interest paid but has higher monthly payments. Income-driven plans like SAVE, PAYE or IBR cap payments at 10-20% of discretionary income and forgive remaining balances after 20-25 years, but you pay more interest overall. Choose based on your income and financial goals.