Student loan calculator

Which fixed-payment plans can I use?

Federal Direct Loans made before July 1, 2026: the Standard plan repays the loan in 10 years, and the Extended plan in up to 25 years if you have more than $30,000 in Direct Loans and had no Direct Loan balance on October 7, 1998. For loans made on or after July 1, 2026 the fixed plan is Tiered Standard, whose term depends on what you owe when repayment starts: under $25,000 — 10 years; $25,000 to under $50,000 — 15; $50,000 to under $100,000 — 20; $100,000 or more — 25. If you have loans from before and after that date, the Tiered Standard plan applies. Payments are at least $50 a month on all of them (34 CFR 685.208). Payment = P × r ÷ (1 − (1 + r)^−n), with r the rate ÷ 12.

Does interest build up before repayment starts?

On a subsidized loan the Department of Education pays the interest while you are in school at least half-time, during the six-month grace period and during deferment; on an unsubsidized loan it builds up the whole time, and in forbearance it builds up on both (studentaid.gov). On Direct Loans unpaid interest is capitalized — added to the principal — after a deferment of an unsubsidized loan, not after the grace period or a forbearance; that interest is still owed and payments go to it first. studentaid.gov’s example: $10,000 unsubsidized at 6.8% in a six-month deferment builds up $340, and you then pay interest on $10,340.

What did the One Big Beautiful Bill Act change?

For loans made on or after July 1, 2026 there are two plans: Tiered Standard and the Repayment Assistance Plan (RAP) (34 CFR 685.210). Under RAP (34 CFR 685.209) the yearly base payment is $120 if your adjusted gross income is $10,000 or less; above that it is 1% of your entire AGI, one point more for each further $10,000 band, up to 10% of AGI over $100,000; the monthly payment is that ÷ 12, minus $50 for each dependent, and at least $10. Interest an on-time payment does not cover is not charged, principal falls by at least $50 a month (or by your payment, if smaller), and what is left is forgiven after 360 qualifying payments. Borrowers in PAYE or ICR must choose another plan before July 1, 2028. This calculator does not estimate RAP or other income-driven payments — they depend on your income, family and tax return; use the Loan Simulator on studentaid.gov.

What are the federal student loan rates for 2026–27?

For Direct Loans first disbursed from July 1, 2026 to June 30, 2027 (studentaid.gov): 6.52% for undergraduates (subsidized and unsubsidized), 8.07% for graduate and professional unsubsidized loans and 9.07% for PLUS loans. They are fixed for the life of the loan; loans from earlier years keep their own rates. Loan fees, taken out of each disbursement: 1.057% on Direct Subsidized and Unsubsidized Loans and 4.228% on PLUS Loans first disbursed from October 1, 2020 to September 30, 2027.

Example

$35,000 of unsubsidized loans at 6.52%, with interest left to build up over the six-month grace period: $1,141 of interest accrues. On the 10-year Standard plan you pay $410.53 a month and $14,263.10 of interest in all. The 25-year Extended plan lowers the payment to $244.03 but the interest grows to $38,209.64. Paying $100 more a month on the Standard plan clears the loan in 7 years 6 months and saves $3,539.89.

Estimates for planning only — not financial advice. Your loan servicer's figures decide. How we check our calculators.