Rex says
Money math without the spreadsheet headache. Plug in your numbers and I'll show you exactly where the dollars land.
Try a scenario
Click to load — tweak from there.Inputs
Result
Standard monthly payment
$363.84
Total interest (standard)
$11,661
Payoff time with extra
120
Interest saved by paying extra
$0
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One click, a permanent link with your numbers baked in.
How to use this
- 1Enter loan balance ($).
- 2Enter interest rate (%).
- 3Enter term (years).
- 4Enter extra monthly payment ($).
- 5Read your standard monthly payment on the right — it updates as you type.
- 6Hit Share to keep the scenario or send it to someone.
About this calculator
Model a standard repayment plan and see what an extra monthly payment does to the payoff date. Student loan interest capitalises, so extra payments early are worth far more than extra payments late.
Worked example
Using the values the calculator loads with:
Inputs
- Loan balance: 32000 $
- Interest rate: 6.53 %
- Term: 10 years
- Extra monthly payment: 0 $
Results
- Standard monthly payment: $363.84
- Total interest (standard): $11,661.06
- Payoff time with extra: 120
- Interest saved by paying extra: $0.00
What each field means
Inputs
- Loan balance ($)
- The loan balance used in the calculation, measured in $. Starts at 32000 $ so you have a working example on load.
- Interest rate (%)
- The interest rate used in the calculation, measured in %. Starts at 6.53 % so you have a working example on load.
- Term (years)
- The term used in the calculation, measured in years. Starts at 10 years so you have a working example on load.
- Extra monthly payment ($)
- The extra monthly payment used in the calculation, measured in $. Starts at 0 $ so you have a working example on load.
Results
- Standard monthly payment
- Returned as a money amount in US dollars and shown as the headline result. It recalculates instantly whenever you change an input, so you can compare scenarios without reloading.
- Total interest (standard)
- Returned as a money amount in US dollars. It recalculates instantly whenever you change an input, so you can compare scenarios without reloading.
- Payoff time with extra
- Returned as a length of time. It recalculates instantly whenever you change an input, so you can compare scenarios without reloading.
- Interest saved by paying extra
- Returned as a money amount in US dollars. It recalculates instantly whenever you change an input, so you can compare scenarios without reloading.
FAQ
How does the student loan calculator work?
Model a standard repayment plan and see what an extra monthly payment does to the payoff date. Student loan interest capitalises, so extra payments early are worth far more than extra payments late. The underlying maths is: Standard amortisation, with any extra payment applied directly to principal each month.
What do I need to enter?
4 values: loan balance, interest rate, term, and extra monthly payment. Each field starts with a sensible default, so you can change one number at a time and watch the result move.
What does the standard monthly payment result mean?
It is returned as a money amount in US dollars and updates live as you edit the inputs, so you can compare two or three versions of a scenario in a few seconds.
Is this calculator free, and do I need an account?
Yes, it's free, and no account is required. Nothing you type is stored on our servers — the maths runs entirely in your browser.
How accurate is the result?
It applies the standard formula exactly, so the arithmetic is precise. Results are estimates before tax, fees, and inflation unless an input explicitly covers them.
Who is this tool for?
It's built for anyone comparing money scenarios before committing — budgeting a payment, sanity-checking a quote, or seeing what a change in rate or term actually costs.
Accuracy and limitations
- Results are estimates before tax, fees, and inflation unless an input explicitly covers them.
- Rates are treated as fixed for the whole period — variable-rate products will drift from this projection.
- This is educational maths, not financial advice. Check anything contractual with the lender or your accountant.
Related tools
Cite this calculator
Writing about this topic? Grab a citation — every link helps keep these tools free.
RevenueLab. (2026). Student Loan Calculator. Retrieved from https://www.revenuelab.fyi/toolbox/student-loan
<p>Source: <a href="https://www.revenuelab.fyi/toolbox/student-loan" target="_blank" rel="noopener">Student Loan Calculator — RevenueLab</a> (2026).</p>
Source: [Student Loan Calculator — RevenueLab](https://www.revenuelab.fyi/toolbox/student-loan) (2026).