Estimate monthly payments and total interest on a student loan under current federal tax law.
Student-loan payment estimate under current federal tax law: a fixed amortized payment on the balance at your rate over the chosen term. Income-driven plans and deferments change the picture.
Payment
M = P × r(1+r)^n / ((1+r)^n − 1)
Estimate only.
Refinancing can lower the rate but may cost federal protections (forgiveness, forbearance).
Rates are approximate reference values. Local rates, exemptions and rules can differ, so treat the output as a planning figure only.