Federal student loans for undergraduates first disbursed from July 2026 to June 2027 carry a fixed 6.52% rate (8.07% for graduate Direct Unsubsidized loans and 9.07% for PLUS loans). The standard plan repays in 10 years; income-driven plans can lower payments but usually increase total interest.
How to use the Student Loan Calculator
- Loan amount
- Interest rate (APR)
- Loan term
Results update as you type, and every field accepts the units shown in its menu.
How it works
Enter the loan amount, interest rate and term.
Inputs explained
| Field | What to enter |
|---|---|
| Loan amount | Amount in your currency |
| Interest rate (APR) | In % |
| Loan term | Units: years, months |
What each result means
- Monthly payment = pmt([Interest rate (APR)]÷1200, [Loan term], [Loan amount])
- Total interest = [Monthly payment]×[Loan term] – [Loan amount]
- Total of all payments = [Monthly payment]×[Loan term]
Example values
How the main result changes when Loan amount changes and everything else stays at the example values above:
| Loan amount | Monthly payment |
|---|---|
| 17,500 | 198.89 |
| 26,250 | 298.33 |
| 35,000 | 397.77 |
| 43,750 | 497.22 |
| 52,500 | 596.66 |
| 70,000 | 795.55 |
Formula
Monthly payment = L × i ÷ (1 − (1 + i)^−n), i = APR ÷ 12, n = months
Total interest = payment × n − L
Worked example
Inputs: Loan amount: $35,000; Interest rate (APR): 6.52 %; Loan term: 10 years.
Results: Monthly payment = $397.77; Total interest = $12,732.90; Total of all payments = $47,732.90.
Frequently asked questions
What is the standard repayment plan?
Fixed payments over 10 years.
What is the current federal student loan rate?
6.52% for undergraduate Direct Loans first disbursed between 1 July 2026 and 30 June 2027 (8.07% for graduate students, 9.07% for PLUS loans). Loans taken out in 2025–26 keep their 6.39% rate.
Can I pay off student loans early?
Yes. There are no prepayment penalties on federal or most private loans.