Student Loan Payment Calculator

Step 1: Enter Current Loan Info
Student Loan Balance
Interest Rate
Loan Term (years)
MONTHLY PAYMENT
$106,557
TOTAL INTEREST PAID
$1,222
TOTAL PAYMENT
$1,222

Compare The Best Student Loan Refinance Rates For 2018

Lender
Rates (APR)
Minimum Credit Score

Overview

Variable Rates:2.47% - 5.87%
Fixed Rates:3.89% - 6.32%
Average Savings:$30,939
Minimum Credit Score:None
Minimum Income:None
Fees:None

Details

Eligible Loans:Private & Federal
Minimum Loan Amount:$45,000
Loan Terms:5-20 years
Borrower Residency:All States except AL, KY, MS, VT
Unemployment Protection:Yes
Co-signer Option:Yes

Overview

Variable Rates:2.57% - 6.98%
Fixed Rates:3.90% - 8.18%
Average Savings:-
Minimum Credit Score:650
Minimum Income:None
Fees:None

Details

Eligible Loans:Private or Federal
Minimum Loan Amount:$5,000
Loan Terms:5, 7, 10, 15, 20 years
Borrower Residency:All states
Unemployment Protection:Yes
Co-signer Option:Yes

Overview

Variable Rates:2.51% - 8.03%
Fixed Rates:3.49% - 8.72%
Average Savings:$15,270
Minimum Credit Score:680
Minimum Income:$24,000
Fees:None

Details

Eligible Loans:Private & Federal
Minimum Loan Amount:$5,000
Loan Terms:5, 7, 10, 15, 20 years
Borrower Residency:All states, except ME, ND, NV, RI, WV
Unemployment Protection:Yes
Co-signer Option:Yes

Overview

Variable Rates:2.69% - 7.43%
Fixed Rates:3.25% - 7.03%
Average Savings:$20,221
Minimum Credit Score:700 (670 with a co-signer)
Minimum Income:$42,000 solo or combined with spouse; $25,000 with a co-signer
Fees:None

Details

Eligible Loans:Private & Federal
Minimum Loan Amount:$7,500
Loan Terms:5, 8, 12, 15 years
Borrower Residency:All states
Unemployment Protection:Case by case
Co-signer Option:Yes

Overview

Variable Rates:2.55% - 6.01%
Fixed Rates:3.09% - 6.69%
Average Savings:N/A
Minimum Credit Score:680
Minimum Income:$35,000
Fees:None

Details

Eligible Loans:Private & Federal
Minimum Loan Amount:$15,000
Loan Terms:5, 7, 10, 15, 20 years
Borrower Residency:All States
Unemployment Protection:Yes
Co-signer Option:Yes

Overview

Variable Rates:2.80% - 6.22%
Fixed Rates:3.50% - 7.02%
Average Savings:$20,200
Minimum Credit Score:660
Minimum Income:None
Fees:None

Details

Eligible Loans:Private & Federal
Minimum Loan Amount:$5,000
Loan Terms:5, 7, 10, 15, 20 years
Borrower Residency:All states
Unemployment Protection:Yes
Co-signer Option:Yes

Advertiser Disclosure

How much will I pay in student loans?

A monthly payment calculator can help you determine how much you will pay in student loans.

The amount you will pay for your student loans is equal to your principal balance, which is the amount you borrowed, multiplied by your interest rate. If you have multiple loans, then your interest rate is a weighted average of your student loan interest rates.

A standard repayment plan is 10 years, so if you make the required student loan payments each month, you will repay your student loans in 10 years.

For example, let’s assume you have $30,000 of student loans at a 7% interest rate and a 10-year repayment term. Using the month payment calculator for student loans, your monthly payment would be $348.

How do you calculate student loan payments?

Your student loan payment each month depends on several factors, including your principal balance, your interest rate and your student loan repayment plan. The standard repayment plan for federal student loans is 10 years. For student loan refinancing, you can choose a loan term between 5 and 20 years.

You can use this monthly payment calculator to calculate student loan payments each month.

What is the monthly payment on a $10,000 student loan?

Let’s assume you have $10,000 in student loan debt at an 8% interest rate. Under the 10-year standard student loan repayment plan, you would pay $121.

You can calculate your monthly payment on this monthly payment calculator for student loans.

How much are student loan payments per month on average?

According to Make Lemonade in its student loan debt statistics report, the average student loan for the Class of 2017 is about $40,000. Your student loan payment will depend on your balance and your interest payment as well as your student loan term.

This average student loan payment calculator can calculate how much you will each month for your student loans.

How do I calculate my average interest rate?

If you have multiple student loans, you can easily calculate the average interest rate of all your student loans. To calculate the weighted average interest rate, you can use this weighted average interest rate calculator.

Then, you can use this monthly payment calculator for student loans to calculate your total monthly payment.

How does this student loan payment calculator work?

This student loan payment calculator is simple to use.

Step 1. Enter your student loan balance.

Step 2. Enter your interest rate. If you have more than one student loan, enter the weighted average interest rate.

Step 3. You’re done.

This average student loan payment calculator will calculate your monthly payment and total payment.

How do I lower my student loan payments?

There are several ways to lower your student loan payments. The best way to lower your student loan payments is through student loan refinancing. With student loan refinance, you can refinance federal student loans or private student loans or both in exchange for a new student loan with a lower interest rate. The result is a single student loan, single monthly payment, single student loan servicer and lower interest rate. With student loan refinancing, your monthly student loan payment will decrease compared with your current student loan and you can save significant money.

You can compare the latest, personalized student loan refinance rates here on Make Lemonade.

What are my student loan repayment options?

When it comes to student loan repayment option, you have several options:

1. Student Loan Refinance

2. Student Loan Consolidation

3. Student Loan Repayment

4. Public Service Loan Forgiveness

The best repayment option for you depends on your financial goals and specific financial situation. If you work in public service, for example, then Public Service Loan Forgiveness may be a viable option. If you want income-based federal student loan repayment plans and want to take advantage of federal protections in case of economic hardship, then a federal repayment plan may be one option. If your goal is to lower your interest rate and pay off your student loans faster, then student loan refinancing may be your best bet.

How do I pay off my student loans early?

You can pay off your student loans early because student loans do not have a prepayment penalty. You can use this prepayment calculator to show you how much money you can save with student loan prepayment

What is the best early loan payoff calculator?

Here is the best early loan payoff calculator

What is the best student loan payoff calculator for multiple loans?

If you have multiple student loans, you can use this weighted average interest rate calculator to calculate your weighted average interest rate.

Then, you can use this early loan payment calculator.

Student Loan Payment Calculator
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