Student Loan Calculator: How to Plan Your Repayment

The average borrower owes $37,338. Understanding your repayment options can save you thousands.

How Much Will You Really Pay?

On $37,000 at 5.5% standard 10-year: $402/month, $48,254 total. That's $11,254 in interest — 30% more than you borrowed.

Repayment Plans

• Standard (10 years): Fixed payment, lowest total interest
• Graduated (10 years): Starts low, increases every 2 years
• Extended (25 years): Lower monthly, much more interest
• SAVE Plan: 5% of discretionary income, forgiveness in 10-25 years

The SAVE Plan

Payments capped at 5% of discretionary income for undergrad loans. Government subsidizes unpaid interest. Forgiveness in 10 years for borrowers with $12,000 or less.

Should You Refinance?

Keep federal loans if you need IDR, PSLF, or deferment. Refinance only if you have excellent credit and stable income and won't use federal programs.

Pay Off Faster

• Avalanche method: extra payments on highest-rate loan first
• Biweekly payments = one extra payment per year
• Employer assistance: up to $5,250/year tax-free