Student Loan Calculator
Calculate student loan payments for different repayment plans and find the best option.
Calculate Student Loan Payment
About Student Loan Repayment
Student loans offer various repayment options to help borrowers manage their debt based on their financial situation and career goals.
Federal Repayment Plans
- Standard: Fixed payments over 10 years
- Extended: Lower payments over 25 years
- Income-Driven: Payments based on income and family size
- Graduated: Payments start low and increase over time
Income-Driven Plans
- IBR: 10-15% of discretionary income
- PAYE: 10% of discretionary income
- REPAYE: 10% of discretionary income
- ICR: 20% of discretionary income
Student Loan Benefits
- Deferment and forbearance options
- Income-driven repayment plans
- Public Service Loan Forgiveness (PSLF)
- Tax deduction for interest paid
- No prepayment penalties
Repayment Strategies
- Pay more than minimum to reduce interest
- Target highest interest rate loans first
- Consider refinancing for lower rates
- Take advantage of employer repayment assistance
- Use tax refunds for extra payments