Typical Loan
Loan Amount ($): 30,000; Interest Rate (%): 6; Loan Term (Years): 10 Years
Number of Payments: 120; Monthly Interest Rate: 0.005; Estimated Monthly Payment: 333.0615058 $; Total Paid: 39,967.3807 $; Total Interest Paid: 9,967.380699 $
Student Loan Calculator
Finance0.0(0)
Estimates monthly payments for student loans based on loan amount, interest rate, and loan term.
More tools:Finance Calculators
How To Use
How to use this calculator
Start with your values, or try a preset.
Step 1
Enter Loan Amount ($), Interest Rate (%), and Loan Term (Years) in the units shown.
Step 2
Read Number of Payments, Monthly Interest Rate, Estimated Monthly Payment, Total Paid, and Total Interest Paid in the results panel. Results update as you change the inputs.
Step 3
Choose a preset to load an example, then adjust the values for your situation.
Worked Examples
Example calculations
See the inputs and their calculated results.
Smaller Loan
Loan Amount ($): 15,000; Interest Rate (%): 5; Loan Term (Years): 5 Years
Number of Payments: 60; Monthly Interest Rate: 0.004166666667; Estimated Monthly Payment: 283.0685047 $; Total Paid: 16,984.11028 $; Total Interest Paid: 1,984.11028 $
Higher Interest
Loan Amount ($): 40,000; Interest Rate (%): 8; Loan Term (Years): 10 Years
Number of Payments: 120; Monthly Interest Rate: 0.006666666667; Estimated Monthly Payment: 485.3103774 $; Total Paid: 58,237.24529 $; Total Interest Paid: 18,237.24529 $
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Important
Treat this output as a planning estimate and confirm rates, tax rules, and contract terms before making financial decisions.