Student Loan Repayment Calculator
Multi-loan repayment and capitalization model
Plan student loans from the payment pause through final payoff
Result
Calculation summary
Enter values to see the result
Live repayment preview
From separate loans through pause and repayment
- Balance entering repayment
- $26,145.43
- Planned monthly payment
- $409.89
- Payoff
- Paid off in 6 years 9 months
- Total modeled new interest
- $7,631.73
How to use this calculator
- 1Add each student loan with its principal, already-accrued interest, APR, type, and whether interest accrues before repayment.
- 2Model any remaining grace, deferment, or other payment-pause months and choose no payment, estimated interest-only payments, or a fixed monthly amount.
- 3Choose whether unpaid interest capitalizes, enter a fixed repayment term and extra payment, then compare allocation strategies and the full schedule.
Formula
Monthly interest estimate = principal balance × APR ÷ 12
Payments are applied to unpaid interest before principal. A selected capitalization event adds unpaid interest to principal before the fixed repayment payment is solved.
Calculation steps
- Track principal and already-accrued interest separately for every loan.
- Accrue monthly pause-period interest only for loans marked as accruing, then apply the selected pause payment.
- Capitalize unpaid interest at repayment only when the user selects that assumption.
- Solve a level scheduled payment for each loan over the selected term, including any uncapitalized interest still owed.
- Apply scheduled payments to every open loan, then direct the remaining fixed monthly budget by highest APR, lowest balance, or proportional balance.
- Compare the plan with the same schedule but no extra payment, and produce per-loan payoff dates and a monthly export.
Worked example
Three loans with different rates enter repayment after a six-month pause. The calculator separately shows interest added during the pause, any amount capitalized, the scheduled ten-year payment, and how a recurring extra payment changes payoff time and interest.
Assumptions
- This is a fixed-rate planning model, not the U.S. Department of Education Loan Simulator and not an eligibility or forgiveness determination.
- Interest uses APR divided into monthly periods; actual student loans commonly accrue simple interest daily, so statements may differ.
- Payments are modeled as going to unpaid interest before principal, with no fees, late payments, collection costs, or new disbursements.
- The planned total repayment budget stays constant after a loan is paid, so its freed scheduled payment moves to the selected priority.
- Extra payments are assumed to reduce the current obligation rather than place the account into paid-ahead status.
- The interest-accrual and capitalization controls are explicit user assumptions because federal, private, deferment, and forbearance rules differ and can change.
Sources
- Federal Student Aid Loan Simulator — U.S. Department of Education
- How is my student loan payment applied to my account? — Consumer Financial Protection Bureau
- Can I make additional payments on my student loan? — Consumer Financial Protection Bureau
- Options for repaying your federal and private student loans — Consumer Financial Protection Bureau
Frequently asked questions
Does this calculate federal income-driven repayment or forgiveness?
No. Those programs depend on current rules and personal eligibility. Use the official Federal Student Aid Loan Simulator and confirm the result with your servicer.
What is capitalized interest?
It is unpaid interest added to principal. Once capitalized, the model charges future interest on that larger principal balance.
Why can pause-period interest differ from my statement?
This tool uses a transparent monthly APR estimate. Servicers may accrue simple interest daily and apply payments or subsidies under loan-specific rules.
What does the avalanche strategy do?
After all modeled scheduled payments, it directs the remaining fixed budget to the open loan with the highest APR and cascades any unused amount.
What does proportional allocation do?
It divides the strategy-directed portion among open loans according to each loan's current principal plus unpaid interest.
Does an extra payment always reduce principal immediately?
The calculator assumes it does after unpaid interest is covered. Ask the servicer how to avoid paid-ahead treatment and how to direct extra funds.
Should I prioritize a private loan over a federal loan solely by rate?
Not automatically. Federal and private loans can have different protections and relief options. The mathematical strategy does not value those benefits.
Are my loan details included in a shared URL?
No. Detailed loan names, balances, rates, and payment assumptions are kept out of the shared link.