Understanding your student loan repayment options is crucial for managing your education debt effectively. This calculator helps you estimate monthly payments, total interest, and explore different repayment strategies.
Government-backed loans with fixed interest rates and flexible repayment options, including income-driven plans.
Loans from private lenders with variable or fixed interest rates, typically requiring a credit check and cosigner.
Fixed monthly payments over 10 years, typically resulting in the lowest total interest paid.
Payments start lower and increase over time, typically every two years, over a 10-year period.
Monthly payments based on your income and family size, with potential loan forgiveness after 20-25 years.
Exhaust federal loan options before considering private loans, as they offer more flexible repayment options and protections.
Research loan forgiveness programs, such as Public Service Loan Forgiveness, if you plan to work in qualifying fields.
When possible, make additional payments to reduce principal and total interest paid over the life of the loan.
This calculator provides estimates only. Actual loan terms, interest rates, and payments may vary based on your specific loan type, repayment plan, and other factors. Additional fees and charges may apply. Please consult with a financial advisor or loan servicer for personalized advice.