Student Loan Interest Calculator

Understand how interest accrues on your student loans during school, grace periods, and repayment. Compare different loan types and payment strategies to minimize your interest costs.

Loan Information

$
%
1 year 4 years 6 years
0 months 6 months 12 months
5 years 10 years 25 years
$

Interest Summary

School Period Interest
$0.00
Grace Period Interest
$0.00
Interest at Repayment Start
$0.00
Total Loan Balance
$10,000.00

Interest Accrual Breakdown

Period Date Principal Interest Accrued Payment Balance

Long-term Interest Projection

Payment Strategy Comparison

No Payments During School

Total Interest: $0.00
Starting Balance: $10,000.00

Interest-Only Payments

Total Interest: $0.00
Starting Balance: $10,000.00
Monthly Payment: $0.00

With Your Payment Plan

Total Interest: $0.00
Starting Balance: $10,000.00
You Save: $0.00

Simple User Guide: Student Loan Interest Calculator

Use of This Calculator

Getting Started

  1. Select Your Loan Type: Select Subsidized, Unsubsidized or Private loans in the top.

  2. Loan Details: Enter the amount of the loan and interest rate.

  3. Adjust Periods: Slide to customize the school period, grace period and payback period.

  4. Calculate Interest: Click the “Calculate Interest” button to view your results.

Understanding Your Inputs

Loan Type:

  • Subsidized: The government pays interest while you are in school.

  • Unsubsidized: Interest begins to accrue in school.

  • In Private: The interest rates tend to be higher when compared to federal ones.

Loan Amount This is how much is borrowed.

Interest Rate: Percentage Rate charged to your loan.

school years: Years of study.

Grace Period: Quiet period in which repayment is due when graduation is present (usually 6 months).

Repayment Term: Period you will take to peddle your loan.

Payments During School/Grace: An amount you expect to pay during the school period or on entering the grace period with the loan.

Advanced Options (Optional)

Click “Advanced Options” to customize:

  • Frequency of Payment: The frequency at which the loan funds will be disbursed to you (semester, annual, etc)

  • Interest Capitalization: Addition Interested When your accrued interest is added to the principal

Understanding Your Results

After calculating, you will see:

  • School Period Interest: Interest accrued while you are in school.

  • Grace Period Interest: Interest accrued during your grace period.

  • Interest at Repayment Start: Total interest accumulated by the start of repayment.

  • Total Loan Balance: Loan principal plus any capitalized interest.

Exploring the Tabs

  • Interest Breakdown: Visualizes how your balance changes over time.

  • Interest Projection: Shows yearly principal and interest payments.

  • Payment Comparison: Compare different strategies, such as:

    • No payments during school

    • Interest-only payments

    • Your custom payment plan

Tips to use the Calculator

  • Test various payment levels throughout school to determine what savings may be had.

  • Use the tabs to find out more about the different facets of your loan and repayment terms.

  • Read the Key Takeaways section to get custom insights.

  • You can change to light/dark mode by pressing on the button at the upper-right corner.

How This Is Important?

Knowledge of interest rate on your student education loan will help you:

  • Take reasonable lending decisions.

  • Create adequate repayment tactics.

  • Save possibly thousands of dollars through the life of your loan.

Pro Tip: If even minimal amount is paid at school, it can considerably decrease the total amount of interest which is paid.