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How the student loan calculator works
Enter what you owe, the interest rate and a repayment term. The calculator shows the fixed monthly payment that pays the loan off on time, the total interest, and what an extra monthly payment would save. When you type a balance, it picks the term the new Tiered Standard plan would use for that amount; you can change it.
Have several loans? Enter them together using a rough average rate, or one at a time for an exact answer.
Payments on common balances
At 6.52%, the 2026-27 federal undergraduate rate.
| Balance | Term | Monthly payment | Total interest |
|---|---|---|---|
| $20,000 | 10 years | $227 | $7,276 |
| $30,000 | 10 years | $341 | $10,914 |
| $30,000 | 15 years | $262 | $17,099 |
| $30,000 | 20 years | $224 | $23,766 |
| $60,000 | 20 years | $448 | $47,532 |
| $100,000 | 25 years | $676 | $102,937 |
Source: our calculation with the Education Department’s 2026-27 rate. The $341 and $262 payments on $30,000 match the Education Department’s own example.
A longer term lowers the payment but costs much more in interest: on $30,000, going from 10 to 20 years saves $117 a month but adds about $12,852 of interest.
2026-27 federal rates and fees
| Loan | Fixed rate | Origination fee (from Oct 1, 2026) |
|---|---|---|
| Undergraduate Direct (subsidized and unsubsidized) | 6.52% | 1.057% |
| Graduate or professional unsubsidized | 8.07% | 1.057% |
| PLUS (parents and remaining grad borrowers) | 9.07% | 4.228% |
Sources: U.S. Department of Education, Jun 4, 2026 (rates) and May 13, 2026 (fees).
Standard plan or income-based plan?
The Tiered Standard plan gives a fixed payment and a known end date. The Repayment Assistance Plan (RAP) bases payments on income instead, up to 10% of adjusted gross income with a $10 minimum, and forgives what is left after 30 years. RAP can mean a much lower payment while your income is low, but usually more total interest if your income rises. Your servicer can show both numbers for your loans.
Once you know your payment, see how it fits with the take-home pay calculator and the 50/30/20 budget calculator, or plan other balances with the debt payoff calculator.
Before you choose a repayment plan
0 of 6 doneAll done. You are ready to get quotes with confidence.
Questions people ask
What are federal student loan interest rates for 2026-27?
For loans first disbursed July 1, 2026 through June 30, 2027, the fixed rates are 6.52% for undergraduate Direct Loans, 8.07% for graduate and professional unsubsidized loans and 9.07% for PLUS loans, per the Education Department. The rates stay fixed for the life of each loan.
Source: U.S. Department of Education, June 4, 2026Is there a fee on federal student loans?
Yes. For loans first disbursed from October 1, 2026 to September 30, 2027, the origination fee is 1.057% for Direct Subsidized and Unsubsidized Loans and 4.228% for PLUS loans. It is taken out of each disbursement, so you repay a little more than you receive.
Source: U.S. Department of Education, May 13, 2026What is the new Tiered Standard repayment plan?
For loans made on or after July 1, 2026, the standard fixed plan sets your term by your balance - 10 years under $25,000, 15 years from $25,000 to $49,999, 20 years from $50,000 to $99,999, and 25 years for $100,000 or more - with a $50 minimum monthly payment.
Source: U.S. Department of Education, RISE final rule fact sheet, Apr 30, 2026What is the Repayment Assistance Plan (RAP)?
RAP is the new income-driven plan available from July 1, 2026. Payments rise with income, from a $10 monthly minimum up to 10% of adjusted gross income for incomes over $100,000, drop by $50 a month for each dependent, and any balance left after 30 years is forgiven. Unpaid interest is waived when you pay on time.
Source: U.S. Department of Education fact sheet, Jun 2026; Edfinancial (federal loan servicer)How much does $100 extra a month save on a student loan?
On $30,000 at 6.52% over 10 years, paying $100 a month extra clears the loan in about 7 years and 2 months and saves about $3,359 in interest (our calculation). Ask your servicer to apply the extra to principal.
Source: Our calculationHow much is the average student loan balance?
The Education Department's portfolio was about $1.7 trillion owed by 42.6 million borrowers on March 31, 2026, which works out to roughly $39,900 each (our calculation). Across all lenders, student debt was $1.651 trillion in the second quarter of 2026, per the New York Fed.
Source: Federal Student Aid, Jun 2026; New York Fed, Aug 2026Can graduate students still get Grad PLUS loans?
Not new borrowers. The One Big Beautiful Bill Act generally ended PLUS loans for graduate and professional students from July 1, 2026, with an exception for students already enrolled and borrowing before then. New annual limits are $20,500 for graduate students and $50,000 for professional students.
Source: Congressional Research Service, Jul 2026; U.S. Department of Education, Apr 2026Sources
Every number above comes from these pages. We list the date each page showed when we checked it.
- U.S. Department of Education, (GENERAL-26-33) Interest Rates for Federal Direct Loans First Disbursed Between July 1, 2026 and June 30, 2027
- U.S. Department of Education, (GENERAL-26-28) FY27 Sequester-Required Changes to the Title IV Student Aid Programs
- U.S. Department of Education, RISE Final Rule Fact Sheet
- U.S. Department of Education, Fact Sheet: Simplifying Student Loan Repayment
- Edfinancial Services (federal loan servicer), Repayment Assistance Plan (RAP)
- Congressional Research Service, Direct Loan Program Student Loans: Terms and Conditions (IF12267)
- U.S. Department of Education, (GENERAL-26-38) Federal Student Aid Posts Updated Reports to FSA Data Center
- Federal Reserve Bank of New York, Household Debt and Credit Report, Q2 2026
For general information only, not financial advice. Rates and rules change, so check with your bank or a licensed advisor before you decide.
- Passed Level II of the CFA® Program
- Canadian Securities Course (CSC)
- Conduct and Practices Handbook (CPH)
Sepehr Parsa is a financial planner and the founder and editor of DollarMap. He has passed Level II of the CFA Program and completed the Canadian Securities Course (CSC) and the Conduct and Practices Handbook (CPH) course. He writes and edits our guides on cars, home repairs, budgeting, saving and investing, and checks that every number has a source.
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