Student Loan Calculator – Plan Your Repayment
Student loan debt is one of the most significant financial burdens for millions of graduates. Understanding your monthly payment, total interest, and total repayment amount helps you plan your budget and choose the right repayment strategy.
Federal Student Loan Types (2024–2025 Rates)
- Direct Subsidized Loans: ~6.53% (undergrads, need-based, no interest during school)
- Direct Unsubsidized Loans: ~6.53% (undergrads) / ~8.08% (grad students)
- Parent PLUS Loans: ~9.08% (higher rate, for parents of dependents)
Repayment Plans
- Standard: Fixed payments over 10 years — highest monthly payment, lowest total interest.
- Extended: Lower payments spread over 20–25 years — more total interest.
- Income-Driven (IDR): Payments based on income and family size, with forgiveness after 20–25 years.
- PSLF: Forgiveness after 10 years for public service employees.
The Grace Period
Most federal loans have a 6-month grace period after graduation before repayment begins. Unsubsidized loans accumulate interest during this time, which capitalizes (gets added to principal) when repayment starts.
