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Student Loan Payment

Calculate the monthly payment and interest on a student loan.

About Student Loan Payment

A student loan is repaid in equal installments that blend principal and interest over the term. The longer the term or higher the rate, the more total interest is paid. Planning student loan payments before leaving school clarifies the real cost of the debt and which repayment term fits.

Formula

Student Loan Payment

Payment = P x m x (1+m)^n / ((1+m)^n - 1)

P
loan amount
m
monthly rate
n
months

Worked example

With the default values below, Student Loan Payment returns Monthly Payment of $379.84. Change any input above and every figure here is recalculated in your browser.

Inputs used

Loan amount
35,000
Annual rateaccepts 0–30 %
5.5 %
Yearsminimum 1
10

Results

Monthly Payment
$379.84
Total Paid
$45,581.04
Total Interest
$10,581.04

Step by step

  1. 1Values used
  2. 2Student Loan Payment
  3. 3Monthly Payment= 379.84
  4. 4Total Paid= 45,581.04
  5. 5Total Interest= 10,581.04

Assumptions and limits

  • The result is derived only from the 3 inputs listed above. Anything not among them is not part of the calculation.
  • In particular, this calculator does not take inflation, tax or fees or charges into account.
  • Figures are rounded for display to 2 decimal places, so totals built from several rounded parts can differ slightly from the unrounded arithmetic.
  • This is an estimate for general information and not professional financial, tax or legal advice. See the full disclaimer for the limits that apply to this kind of calculator.

How these calculators are built and tested is described on the Methodology page. If a figure looks wrong, please report it.

Frequently Asked Questions

How is Student Loan Payment calculated?

Payment = P x m x (1+m)^n / ((1+m)^n - 1) A student loan is repaid in equal installments that blend principal and interest over the term. The longer the term or higher the rate, the more total interest is paid.

Why does Student Loan Payment matter?

Planning student loan payments before leaving school clarifies the real cost of the debt and which repayment term fits.

What values do I need to enter?

This calculator takes 3 inputs: Loan amount, Annual rate, Years. The pre-filled defaults are a realistic starting point — replace them with figures from your own environment for a result you can act on.

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