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Student Loan Interest Calculator

Work out student loan interest instantly with clear inputs, formula shown and shareable results.

About Student Loan Interest Calculator

Student loans typically accrue simple daily interest on the outstanding balance. Multiplying the daily accrual by days in the period shows exactly what a payment must beat before it starts reducing principal.

Formula

Daily accrual

Daily interest = Balance × annual rate / 365; Period interest = daily × days

Worked example

With the default values below, Student Loan Interest Calculator returns Interest For The Period of $7,212.33. Change any input above and every figure here is recalculated in your browser.

Inputs used

Current Balanceminimum 0
900,000
Annual Interest Rateaccepts 0–100 %
9.75 %
Days In The Periodaccepts 1–3,650
30

Results

Interest For The Period
$7,212.33
Interest Accruing Per Day
$240.4110
Interest Over A Full Year
$87,750.00
Balance If Interest Is Capitalised
$907,212.33

Step by step

  1. 1Values used
  2. 2Daily accrual
  3. 3Interest For The Period= 7,212.33
  4. 4Interest Accruing Per Day= 240.4110
  5. 5Interest Over A Full Year= 87,750.00
  6. 6Balance If Interest Is Capitalised= 907,212.33

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 4 decimal places, so totals built from several rounded parts can differ slightly from the unrounded arithmetic.
  • Figures are estimates. Lenders apply their own rounding, fees and eligibility rules, and rates change. This is not financial advice — confirm the numbers with your lender.
  • 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.

Figures are estimates. Lenders apply their own rounding, fees and eligibility rules, and rates change. This is not financial advice — confirm the numbers with your lender.

Frequently Asked Questions

Why does the payment date matter?

Interest accrues every day, so paying earlier in the month means fewer days of accrual and more of the payment reaching principal.

What is capitalisation?

Unpaid accrued interest being added to principal, after which it starts earning interest itself.

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