Loan Payment Calculator
Estimate monthly payments, total interest, and a month-by-month payoff schedule.
Open calculator
Estimate a fixed student loan payment, interest, income share, and 10-, 15-, and 20-year options.
Estimated payment
$340.95per month- Total interest
- $10,913.83
- Total paid
- $40,913.83
| Years | Monthly payment | Total interest |
|---|---|---|
| 10 | $340.95 | $10,913.83 |
| 15 | $261.66 | $17,099.50 |
| 20 | $224.03 | $23,764.86 |
Enable JavaScript for interactive estimates, sharing controls, and CSV download.
Estimates for educational purposes only. Not financial advice. Actual terms depend on your lender.
How it works
The fixed monthly payment uses the standard amortization formula with APR divided by 12. The income share divides that payment by annual salary divided by 12. The comparison recalculates the same balance and APR for 10, 15, and 20 years. Federal Direct Loans accrue interest daily, so actual servicer totals can differ.
At $30,000 and 6.52% APR for 10 years, the estimated payment is about $340.95 per month and total interest is about $10,913.83. For $60,000 annual salary, the payment is about 6.8% of monthly gross income.
Frequently asked questions
Does this calculate income-driven repayment?
No. Eligibility and rules depend on loan type and disbursement date. Use Federal Student Aid's Repayment Calculator for plan options.
Which APR should I enter?
Use the rate on your own loan statement. Federal rates shown here apply only to the specified first-disbursement period and loan type.
Does the salary field affect the payment?
No. It only estimates the fixed payment as a share of gross monthly salary.
Why could my servicer show a different total?
Federal Direct Loans accrue interest daily, and payment timing, fees, deferment, and loan details can change the actual total.
Related tools
Looking for a 0% loan?
Browse organizations and confirm current eligibility with each provider.
Find a free loan near you
