Student Loan Calculator

Compare federal and private student loan payments, total interest, and repayment timelines.

Federal Loans

Private Loans

Understanding Student Loan Repayment

Student loans typically come in two types: federal (government-backed with fixed rates) and private (from banks or lenders, often with variable rates). Federal loans offer more repayment flexibility and forgiveness options.

Current Federal Student Loan Rates (2025-2026)

  • Direct Subsidized/Unsubsidized (Undergraduate): 5.50%
  • Direct Unsubsidized (Graduate): 7.05%
  • Direct PLUS (Parent/Graduate): 8.05%

Repayment Strategies

  • Pay more than the minimum when possible — even $50/month extra saves thousands
  • Target high-interest private loans first (avalanche method)
  • Look into income-driven repayment plans for federal loans
  • Consider refinancing private loans if your credit has improved

Frequently Asked Questions

The standard plan is 10 years (120 months) with fixed monthly payments. This is the default for federal loans. It results in the least total interest among all repayment plans but has the highest monthly payment.
Refinancing can save money if you qualify for a lower rate, but you lose federal protections like income-driven repayment and Public Service Loan Forgiveness. Only refinance federal loans to private if you're sure you won't need these benefits.
IDR plans cap your monthly payment at 10-20% of your discretionary income. After 20-25 years of qualifying payments, any remaining balance is forgiven. The SAVE plan (2024) offers the lowest payments for most borrowers.

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