Tool: Student loan calculator · Embed · All how-we-calculate pages · Questions
Purpose
Estimate a fixed monthly payment for a student loan balance using a constant annual rate and term in months that you type, with optional extra principal payments. Educational only.
Payment formula
For principal P, monthly rate r = rate/12/100, and n months:
payment = P · r · (1+r)^n / ((1+r)^n − 1) when r > 0; otherwise P / n.
Optional extra monthly payment is added to the base payment and applied as extra principal each month in the schedule.
What we intentionally leave out
- Federal income-driven plans (SAVE, IBR, PAYE, etc.)
- Public Service Loan Forgiveness, cancellation, and deferment
- Live federal or private rates and consolidation product rules
- Fees, capitalization events, and variable rates
Related
Last reviewed: August 9, 2026.
YMYL notice: This site is for education only. It is not financial, tax, or investment advice. Nestfigure is not a bank, credit union, broker, investment adviser, or fiduciary. Product terms, rates, and penalties vary—always read your institution’s disclosures before acting. Calculator results are mathematical estimates, not bank quotes.