Student Loan Repayment Calculator
Estimate monthly payments and total cost with a grace period and fixed interest rate.
This tool estimates payments on a fixed-rate student loan after a grace period with no payments. During grace, interest accrues monthly at the same annual rate and is assumed to capitalize once when repayment begins — similar to many unsubsidized loans. Your promissory note or loan servicer may use different rules (for example subsidized loans, different compounding, or capitalization timing).
Here P is your balance before grace, g is grace months, P' is the balance when payments start, r is the monthly rate (annual rate divided by 12), n is the number of monthly payments in your remaining term, and M is the level payment.
The principal/interest bar compares your original loan balance to all interest you pay over the repayment schedule (including interest that built up during grace, which increases your payment). It does not include income-driven repayment, deferment beyond this model, or fees.