Student Loan Calculator
Calculate your monthly student loan payments, total lifetime interest, and see how much time and money extra payments save you.
Loan Specifications
Federal undergraduate direct loans currently range from 5.5% to 6.53%.
Extra payments go 100% directly toward reducing the principal balance.
Repayment Summary10 Yr Schedule
US Student Loan Repayment Strategies & Tax Deductions
Standard 10-Year Plan
The default federal plan. Fixed equal payments ensure your loan is 100% paid off in exactly 120 months with minimal interest accumulation.
Income-Driven Repayment (IDR)
Caps monthly payments at a percentage (5%–10%) of your discretionary income. Any remaining unpaid balance is forgiven after 20–25 years.
$2,500 Tax Deduction
The IRS allows eligible borrowers to deduct up to $2,500 of student loan interest per year as an above-the-line deduction on Form 1040.
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