Student Loan Calculator
Compare scheduled student-loan payments with an extra monthly payment, then inspect a separate historical income-driven calculation.
Assumptions and limits
Enter balance, annual rate and term. Interest posts monthly to cents; the scheduled annuity uses a final balancing payment. Extra payments use a fixed-payment simulation with a final partial payment, never an invented payoff at the iteration limit.
Enter the first payment month; payment 1 occurs in that month. Dates use calendar months, not elapsed days. No daily interest, fees or servicer rules. A zero balance has no payoff date.
For eligible historical cases only: HHS 2023 poverty amount is 14580 + 5140 × (family size − 1). Discretionary AGI is max(0, AGI − 1.5 × poverty). Compare 15% IBR and 10% PAYE/new IBR, divided by 12, capped at the 10-year standard amount; below $5 becomes $0, $5–under $10 becomes $10.
Interest and payments post half-up to cents. The scheduled final payment may differ from the regular amount. Extra-payment residuals remain visible; a limit is not a payoff.
Balance $1200, 0%, 1 year: $100/month, $1200 total. Add $100/month: 6 payments. AGI $40000, family 1: $151.08 at 10% or $226.63 at 15%, before the standard cap.
Switch extra payment back to zero to compare the fixed-payment schedule with the scheduled final adjustment. Check the last payment and residual before using the payoff month.
Amounts are calculated in this page and are not saved or sent by this calculator. Surrounding site services are separate.
Sources
Standard repayment adjusts the final scheduled payment. The payoff headline uses fixed monthly payments, even when extra is zero; a cent residual can require another month.
Standard Repayment
With Extra Payments
📋 Repayment Options
| Plan | Monthly | Total Interest | Payoff Time |
|---|---|---|---|
Final payment:
Residual balance:
📊 Historical IBR/PAYE arithmetic — HHS 2023, 48 states/DC. Annual income means AGI. Family size is an exact integer, not a 5+ bucket.
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About Student Loan Calculator
Compare scheduled student-loan payments with an extra monthly payment, then inspect a separate historical income-driven calculation.
Balance $1200, 0%, 1 year: $100/month, $1200 total. Add $100/month: 6 payments. AGI $40000, family 1: $151.08 at 10% or $226.63 at 15%, before the standard cap.
No. This is historical arithmetic, not enrollment or forgiveness advice. Loan dates, debt history, spouse and other criteria are not checked. As recorded on 21 October 2026, RISE guidance and PAYE enrollment dates differ across the collected sources; confirm your case with Federal Student Aid or your servicer.
Use Cases
How to use
Enter balance, annual rate and term. Interest posts monthly to cents; the scheduled annuity uses a final balancing payment. Extra payments use a fixed-payment simulation with a final partial payment, never an invented payoff at the iteration limit.
Enter the first payment month; payment 1 occurs in that month. Dates use calendar months, not elapsed days. No daily interest, fees or servicer rules. A zero balance has no payoff date.
Pro Tips
- Switch extra payment back to zero to compare the fixed-payment schedule with the scheduled final adjustment. Check the last payment and residual before using the payoff month.
Troubleshooting
Why can the final payment differ?
The regular annuity is rounded to cents. Monthly rounded interest leaves a small difference; the scheduled final payment balances it. The extra-payment simulation instead pays the smaller remaining balance plus that month’s interest.
Can this tell me whether I can enroll in PAYE now?
No. This is historical arithmetic, not enrollment or forgiveness advice. Loan dates, debt history, spouse and other criteria are not checked. As recorded on 21 October 2026, RISE guidance and PAYE enrollment dates differ across the collected sources; confirm your case with Federal Student Aid or your servicer.
Frequently Asked Questions
The regular annuity is rounded to cents. Monthly rounded interest leaves a small difference; the scheduled final payment balances it. The extra-payment simulation instead pays the smaller remaining balance plus that month’s interest.
No. This is historical arithmetic, not enrollment or forgiveness advice. Loan dates, debt history, spouse and other criteria are not checked. As recorded on 21 October 2026, RISE guidance and PAYE enrollment dates differ across the collected sources; confirm your case with Federal Student Aid or your servicer.