How much will I pay on a $30,000 student loan?

On the standard 10-year plan at 5.5%, monthly payment is about $327 and total paid is $39,220.

What is the SAVE plan?

SAVE caps payments at 5% of discretionary income for undergrad loans and forgives remaining balance after 10-25 years.

Student Loan Calculator

Estimate monthly payments, total interest, and payoff date. Compare Standard, Graduated, and Extended repayment plans.

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How Student Loan Repayment Works

Student loans accrue interest daily: Daily Interest = Balance x (Rate / 365.25). On $37,000 at 5.5%, that is $5.58/day.

Standard vs Graduated vs Extended

Standard (10yr): Fixed payment, lowest total interest
Graduated (10yr): Starts low, increases every 2 years
Extended (25yr): Lower monthly but much more interest

The SAVE Plan (Income-Driven)

SAVE caps payments at 5% of discretionary income for undergraduate loans. Remaining balance forgiven after 10-25 years. Government subsidizes unpaid interest.

Extra Payments Save Thousands

Adding $50/month extra on $37,000 at 5.5% saves over $4,000 in interest and shortens payoff by 2+ years.

2026 Student Loan Rates

Direct Subsidized/Unsubsidized (Undergrad): ~5.50%
Direct Unsubsidized (Graduate): ~7.05%
Direct PLUS: ~8.05%
Private: 3.5%-15% depending on credit

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