How Student Loan Repayment Works

Standard student loan repayment uses a fixed monthly payment over a set term—typically 10 years for federal loans. Each payment is split between principal and interest; early on most goes to interest, and over time more goes to principal. Use the Student Loan Calculator to estimate your monthly payment and total cost for any balance, rate, and term.

Federal vs Private

Federal loans offer multiple repayment plans, including income-driven options that are not modeled here. The calculator applies to standard fixed-term repayment, which many federal and private loans use. Enter your total balance (or the amount you plan to borrow), your interest rate, and the repayment term to see your payment and amortization.

After Graduation

Many federal loans have a grace period after graduation before payments start. When repayment begins, the standard plan uses the balance at that time, the stated rate, and the term to set a fixed payment. Use the calculator with your balance at repayment start to see your projected payment.

Practical Takeaway

Use the Student Loan Calculator to see how much you will pay each month and in total. For federal vs private comparison, read federal vs private student loans. For how interest is applied, see what is student loan interest.