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Estimate your student loan payment (repayment calculator)
Estimate your student loan payments under a standard repayment plan (equal payments) using the calculator below.
- This is only an estimate! Your actual payment amount is determined by your loan holder based on the amount that you borrowed. However, most student loan programs require at least a $50 payment each month, no matter how small your loan amount.
- Your interest rate depends on your loan type and when you received the loan.
- The calculator is preset to 120 months and an interest rate of 6.8 percent. You may adjust these.
- It is recommended that your student loan payment be less than 8 percent of your gross income. The minimum salary field is based on this recommendation.
Enter your Number of Monthly Payments, Simple Interest Rate, and Principal Amount of Loan.