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A US student loan calculator shows the monthly payment for a federal or private student loan under the standard amortizing-loan model: a fixed monthly payment mixing interest and principal until the balance falls to zero.
The calculation runs entirely locally in your browser, in pure JavaScript - nothing is uploaded or stored. Optionally enter an extra monthly payment that goes entirely toward principal - the calculator then shows the interest saved and the shortened payoff time directly. It shows the monthly payment, total cost, total interest, plus an amortization schedule.
An honest note: this is a model-based estimate, not a loan commitment. Income-driven repayment plans, in-school interest deferment, loan forgiveness programs and the differing rates of federal vs. private loans are not modelled - the calculator assumes a fixed annuity starting immediately.
Important to understand: in the first years a large part of each payment goes to interest, and only later does principal dominate. That is why an extra payment early in the term saves far more interest than the same payment near the end - the calculator makes this effect visible by comparing the total interest with and without the entered extra payment.
Specifications
Specifications
Input formats
Form inputs (no file)
Processing
Locally in your browser (JavaScript)
File upload
None
In 3 steps
Enter the loan balance and interest rate.
Choose the term, optionally enter an extra payment.
Read off the monthly payment, total interest and savings.
Limitations: A model-based estimate, not a loan commitment. Income-driven repayment plans, interest deferment and forgiveness programs are not included - a fixed annuity starting immediately is assumed.
FAQ
Does my loan balance leave my device?
No, the entire calculation runs locally in your browser - nothing is uploaded or stored.
Are income-driven plans included?
No, the calculator only models a fixed annuity, not income-driven repayment.
How much does an extra payment save?
The calculator compares total interest with and without the entered extra payment and shows the difference plus the shortened term directly.
Does this apply to federal loans too?
Mathematically yes - the calculator models the standard repayment plan that federal loans also default to.
Are forgiveness programs included?
No, Public Service Loan Forgiveness and similar programs are not part of this calculation.