Education Loan Calculator: Plan Your Student Debt Repayment Easily

Estimate student-loan payments in seconds: enter amount, interest, term, payment frequency and optional grace period, then read the monthly (or quarterly/annual) bill, total repayment and total interest. A $18,500 loan at 4.75 % over 8 years costs about $232 each month and $3,772 in interest—roughly 20 % of the principal (calculated with the standard amortization formula). Federal rates now range from 5.50 % to 8.05 % (U.S. Dept. of Education, 2023).