Loan Calculator

This loan calculator may be used to calculate monthly loan payments, total payments, total interest paid and payment schedules for federal student loans, private student loans, parent loans, fixed-rate mortgages and other loans involving level amortization. This calculator can calculate monthly payments under standard repayment and extended repayment for federal student loans.

Loan details

Student loan payments are considered to be affordable if they are less than 10% of monthly gross income, with a stretch limit of 15%. 10% of monthly income corresponds to an annual income of $45,121 and a debt-to-income ratio of 0.8. 15% of monthly income corresponds to an annual income of $30,081 and a debt-to-income ratio of 1.2.

A good rule of thumb is that your total student loan debt at graduation should be less than your annual starting salary, and, ideally, a lot less. If your total student loan debt is less than your annual income, you should be able to repay your student loans in 10 years or less.

This table shows the impact of increasing the repayment term on the monthly loan payment and the total cost of the loan. Choose the shortest repayment term with the highest loan payment you can afford.

Loan TermMonthly PaymentChange in Monthly PaymentTotal InterestChange in Total InterestTotal PaymentsChange in Total Payment
10 years10Y$376.01-$10,120.87-$45,120.87-
15 years15Y$280.59 $95.42
-25.4%
$15,506.20$5,385.33
53.2%
1.55X
$50,506.20$5,385.33
11.9%
1.12X
20 years20Y$234.35 $141.66
-37.7%
$21,245.52$11,124.65
109.9%
2.14X
$56,245.52$11,124.65
24.7%
1.25X
25 years25Y$207.74 $168.27
-44.8%
$27,321.82$17,200.95
170.0%
2.77X
$62,321.82$17,200.95
38.1%
1.38X
30 years30Y$190.89 $185.12
-49.2%
$33,717.18$23,596.31
233.1%
3.42X
$68,717.18$23,596.31
52.3%
1.52X

If there are no prepayment penalties, making an extra payment to principal each month can accelerate repayment of the loan.

  • Paying an extra $25.00 a month will cut 0.8 years off of the 10-year term and save $821.92 in interest over the life of the loan.
  • Paying an extra $50.00 a month will cut 1.4 years off of the 10-year term and save $1,513.94 in interest over the life of the loan.
  • Paying an extra $100.00 a month will cut 2.5 years off of the 10-year term and save $2,615.05 in interest over the life of the loan.
Payment NumberMonthly PaymentInterest PaymentPrincipal PaymentCumulative InterestCumulative PrincipalRemaining Balance
1 $376.01 $148.73 $227.28 $148.73 $227.28 $35,149.84
2 $376.01 $147.78 $228.23 $296.51 $455.51 $34,921.61
3 $376.01 $146.82 $229.19 $443.32 $684.71 $34,692.41
4 $376.01 $145.85 $230.16 $589.18 $914.86 $34,462.26
5 $376.01 $144.89 $231.12 $734.06 $1,145.99 $34,231.13
6 $376.01 $143.91 $232.10 $877.97 $1,378.09 $33,999.03
7 $376.01 $142.94 $233.07 $1,020.91 $1,611.16 $33,765.96
8 $376.01 $141.96 $234.05 $1,162.87 $1,845.21 $33,531.91
9 $376.01 $140.97 $235.04 $1,303.84 $2,080.25 $33,296.87
10 $376.01 $139.99 $236.02 $1,443.83 $2,316.27 $33,060.85
11 $376.01 $138.99 $237.02 $1,582.82 $2,553.29 $32,823.83
12 $376.01 $138.00 $238.01 $1,720.82 $2,791.30 $32,585.82
13 $376.01 $137.00 $239.01 $1,857.82 $3,030.31 $32,346.81
14 $376.01 $135.99 $240.02 $1,993.81 $3,270.33 $32,106.79
15 $376.01 $134.98 $241.03 $2,128.79 $3,511.36 $31,865.76
16 $376.01 $133.97 $242.04 $2,262.76 $3,753.40 $31,623.72
17 $376.01 $132.95 $243.06 $2,395.71 $3,996.46 $31,380.66
18 $376.01 $131.93 $244.08 $2,527.64 $4,240.54 $31,136.58
19 $376.01 $130.90 $245.11 $2,658.54 $4,485.65 $30,891.47
20 $376.01 $129.87 $246.14 $2,788.42 $4,731.78 $30,645.34
21 $376.01 $128.84 $247.17 $2,917.25 $4,978.96 $30,398.16
22 $376.01 $127.80 $248.21 $3,045.05 $5,227.17 $30,149.95
23 $376.01 $126.76 $249.25 $3,171.81 $5,476.42 $29,900.70
24 $376.01 $125.71 $250.30 $3,297.52 $5,726.72 $29,650.40
25 $376.01 $124.66 $251.35 $3,422.17 $5,978.08 $29,399.04
26 $376.01 $123.60 $252.41 $3,545.77 $6,230.49 $29,146.63
27 $376.01 $122.54 $253.47 $3,668.31 $6,483.96 $28,893.16
28 $376.01 $121.47 $254.54 $3,789.78 $6,738.50 $28,638.62
29 $376.01 $120.40 $255.61 $3,910.18 $6,994.11 $28,383.01
30 $376.01 $119.33 $256.68 $4,029.51 $7,250.79 $28,126.33
31 $376.01 $118.25 $257.76 $4,147.75 $7,508.56 $27,868.56
32 $376.01 $117.16 $258.85 $4,264.92 $7,767.40 $27,609.72
33 $376.01 $116.08 $259.93 $4,380.99 $8,027.34 $27,349.78
34 $376.01 $114.98 $261.03 $4,495.98 $8,288.36 $27,088.76
35 $376.01 $113.89 $262.12 $4,609.86 $8,550.49 $26,826.63
36 $376.01 $112.78 $263.23 $4,722.65 $8,813.71 $26,563.41
37 $376.01 $111.68 $264.33 $4,834.32 $9,078.05 $26,299.07
38 $376.01 $110.57 $265.44 $4,944.89 $9,343.49 $26,033.63
39 $376.01 $109.45 $266.56 $5,054.34 $9,610.05 $25,767.07
40 $376.01 $108.33 $267.68 $5,162.67 $9,877.73 $25,499.39
41 $376.01 $107.20 $268.81 $5,269.87 $10,146.54 $25,230.58
42 $376.01 $106.07 $269.94 $5,375.95 $10,416.47 $24,960.65
43 $376.01 $104.94 $271.07 $5,480.88 $10,687.55 $24,689.57
44 $376.01 $103.80 $272.21 $5,584.68 $10,959.76 $24,417.36
45 $376.01 $102.65 $273.36 $5,687.34 $11,233.11 $24,144.01
46 $376.01 $101.51 $274.50 $5,788.84 $11,507.62 $23,869.50
47 $376.01 $100.35 $275.66 $5,889.19 $11,783.28 $23,593.84
48 $376.01 $99.19 $276.82 $5,988.39 $12,060.09 $23,317.03
49 $376.01 $98.03 $277.98 $6,086.42 $12,338.07 $23,039.05
50 $376.01 $96.86 $279.15 $6,183.28 $12,617.22 $22,759.90
51 $376.01 $95.69 $280.32 $6,278.96 $12,897.55 $22,479.57
52 $376.01 $94.51 $281.50 $6,373.47 $13,179.05 $22,198.07
53 $376.01 $93.32 $282.69 $6,466.79 $13,461.74 $21,915.38
54 $376.01 $92.14 $283.87 $6,558.93 $13,745.61 $21,631.51
55 $376.01 $90.94 $285.07 $6,649.87 $14,030.68 $21,346.44
56 $376.01 $89.74 $286.27 $6,739.62 $14,316.94 $21,060.18
57 $376.01 $88.54 $287.47 $6,828.16 $14,604.41 $20,772.71
58 $376.01 $87.33 $288.68 $6,915.49 $14,893.09 $20,484.03
59 $376.01 $86.12 $289.89 $7,001.61 $15,182.98 $20,194.14
60 $376.01 $84.90 $291.11 $7,086.51 $15,474.09 $19,903.03
61 $376.01 $83.68 $292.33 $7,170.18 $15,766.43 $19,610.69
62 $376.01 $82.45 $293.56 $7,252.63 $16,059.99 $19,317.13
63 $376.01 $81.21 $294.80 $7,333.84 $16,354.79 $19,022.33
64 $376.01 $79.97 $296.04 $7,413.81 $16,650.83 $18,726.29
65 $376.01 $78.73 $297.28 $7,492.54 $16,948.11 $18,429.01
66 $376.01 $77.48 $298.53 $7,570.02 $17,246.64 $18,130.48
67 $376.01 $76.22 $299.79 $7,646.25 $17,546.42 $17,830.70
68 $376.01 $74.96 $301.05 $7,721.21 $17,847.47 $17,529.65
69 $376.01 $73.70 $302.31 $7,794.91 $18,149.78 $17,227.34
70 $376.01 $72.43 $303.58 $7,867.33 $18,453.37 $16,923.75
71 $376.01 $71.15 $304.86 $7,938.48 $18,758.23 $16,618.89
72 $376.01 $69.87 $306.14 $8,008.35 $19,064.37 $16,312.75
73 $376.01 $68.58 $307.43 $8,076.93 $19,371.80 $16,005.32
74 $376.01 $67.29 $308.72 $8,144.22 $19,680.52 $15,696.60
75 $376.01 $65.99 $310.02 $8,210.21 $19,990.54 $15,386.58
76 $376.01 $64.69 $311.32 $8,274.90 $20,301.86 $15,075.26
77 $376.01 $63.38 $312.63 $8,338.28 $20,614.49 $14,762.63
78 $376.01 $62.06 $313.95 $8,400.34 $20,928.44 $14,448.68
79 $376.01 $60.74 $315.27 $8,461.09 $21,243.70 $14,133.42
80 $376.01 $59.42 $316.59 $8,520.51 $21,560.29 $13,816.83
81 $376.01 $58.09 $317.92 $8,578.60 $21,878.21 $13,498.91
82 $376.01 $56.75 $319.26 $8,635.35 $22,197.47 $13,179.65
83 $376.01 $55.41 $320.60 $8,690.76 $22,518.07 $12,859.05
84 $376.01 $54.06 $321.95 $8,744.82 $22,840.02 $12,537.10
85 $376.01 $52.71 $323.30 $8,797.53 $23,163.32 $12,213.80
86 $376.01 $51.35 $324.66 $8,848.88 $23,487.98 $11,889.14
87 $376.01 $49.98 $326.03 $8,898.86 $23,814.01 $11,563.11
88 $376.01 $48.61 $327.40 $8,947.47 $24,141.41 $11,235.71
89 $376.01 $47.24 $328.77 $8,994.71 $24,470.18 $10,906.94
90 $376.01 $45.85 $330.16 $9,040.56 $24,800.34 $10,576.78
91 $376.01 $44.47 $331.54 $9,085.03 $25,131.88 $10,245.24
92 $376.01 $43.07 $332.94 $9,128.10 $25,464.82 $9,912.30
93 $376.01 $41.67 $334.34 $9,169.78 $25,799.15 $9,577.97
94 $376.01 $40.27 $335.74 $9,210.04 $26,134.90 $9,242.22
95 $376.01 $38.86 $337.15 $9,248.90 $26,472.05 $8,905.07
96 $376.01 $37.44 $338.57 $9,286.34 $26,810.62 $8,566.50
97 $376.01 $36.01 $340.00 $9,322.35 $27,150.62 $8,226.50
98 $376.01 $34.59 $341.42 $9,356.94 $27,492.04 $7,885.08
99 $376.01 $33.15 $342.86 $9,390.09 $27,834.90 $7,542.22
100 $376.01 $31.71 $344.30 $9,421.80 $28,179.20 $7,197.92
101 $376.01 $30.26 $345.75 $9,452.06 $28,524.95 $6,852.17
102 $376.01 $28.81 $347.20 $9,480.87 $28,872.15 $6,504.97
103 $376.01 $27.35 $348.66 $9,508.21 $29,220.82 $6,156.30
104 $376.01 $25.88 $350.13 $9,534.10 $29,570.94 $5,806.18
105 $376.01 $24.41 $351.60 $9,558.51 $29,922.54 $5,454.58
106 $376.01 $22.93 $353.08 $9,581.44 $30,275.62 $5,101.50
107 $376.01 $21.45 $354.56 $9,602.89 $30,630.18 $4,746.94
108 $376.01 $19.96 $356.05 $9,622.84 $30,986.24 $4,390.88
109 $376.01 $18.46 $357.55 $9,641.30 $31,343.79 $4,033.33
110 $376.01 $16.96 $359.05 $9,658.26 $31,702.84 $3,674.28
111 $376.01 $15.45 $360.56 $9,673.71 $32,063.40 $3,313.72
112 $376.01 $13.93 $362.08 $9,687.64 $32,425.48 $2,951.64
113 $376.01 $12.41 $363.60 $9,700.05 $32,789.08 $2,588.04
114 $376.01 $10.88 $365.13 $9,710.93 $33,154.21 $2,222.91
115 $376.01 $9.35 $366.66 $9,720.27 $33,520.88 $1,856.24
116 $376.01 $7.80 $368.21 $9,728.08 $33,889.08 $1,488.04
117 $376.01 $6.26 $369.75 $9,734.33 $34,258.84 $1,118.28
118 $376.01 $4.70 $371.31 $9,739.04 $34,630.14 $746.98
119 $376.01 $3.14 $372.87 $9,742.18 $35,003.01 $374.11
120 $375.68 $1.57 $374.11 $9,743.75 $35,377.12 $0.00