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Student Loan Calculator

Payment, payoff time and the cost of interest capitalisation.

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On an unsubsidised loan, covering the interest during study is usually the highest-value payment a student borrower can make.

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TermMonthlyTotal interestTotal repaid

Monthly payment

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Balance at repayment—
Interest capitalised—
Total interest—
Total repaid—
Payoff date—
Payments made—
Saved by overpaying—
In-school payments—

Quick Tool Overview

The Student Loan Calculator gives the payment, payoff date and total interest on education debt, and models the part that catches borrowers out: interest accruing during study and grace periods, then capitalising onto the principal when repayment starts.

What it does
Calculates student loan payments and the cost of capitalisation
You give it
Your balance, rate, term and any remaining study time
You get back
The monthly payment, payoff date, total interest and capitalised amount
Best for
Students and graduates planning repayment
Calculators Free, unlimited use No sign-up Runs in your browser

About the Student Loan Calculator

Enter your balance, rate and repayment term to get the monthly payment, the payoff date and the total interest. If you are still studying or in a grace period, the calculator can add the interest that accrues before repayment starts and capitalise it onto the balance.

Capitalisation is the part that catches borrowers out. On an unsubsidised loan, interest accrues while you study and during grace and deferment periods, and when repayment begins it is added to the principal. You then pay interest on that interest for the whole term. Paying even a small amount during study, enough to cover the accruing interest, prevents it entirely and is usually the single highest-value thing a student borrower can do.

Key features of the Student Loan Calculator

Capitalisation modelled

Interest accrued in study and grace is added to principal, and you then pay interest on it for the whole term.

The in-school payment case

Covering interest while studying prevents capitalisation entirely, and the calculator shows what that is worth.

Plan length comparison

Standard ten-year against extended plans, in payment and in total cost.

Extra payment modelling

See what a modest overpayment removes from the term and the interest.

Payoff date, not just a count

A real date is easier to plan around than a number of payments.

How to use the Student Loan Calculator

  1. 1

    Enter your balance and rate

    Total borrowed and the interest rate. Add loans separately if the rates differ significantly.

  2. 2

    Set the repayment term

    Standard repayment is ten years; extended and graduated plans run longer and cost more.

  3. 3

    Add in-school time

    Months remaining in study plus any grace period, so accrued interest can be capitalised.

  4. 4

    Try an extra payment

    See how much a modest monthly overpayment removes from the term and the total interest.

Frequently asked questions

When unpaid accrued interest is added to your principal balance, usually when repayment begins after study or deferment. From then on you pay interest on that interest, which raises the total cost noticeably.

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