Student Loan Monthly Payment
Standard 10-year amortization payment for federal/private loans.
Result
Monthly payment
$340.64
Total interest: $10,877.
- Principal$30,000
- APR6.500%
- Term10 yr (120 pmts)
- Monthly$340.64
- Total paid$40,877
- Total interest$10,877
Step-by-step
- Monthly rate = 0.065 / 12 = 0.005417.
- PMT = P × r / (1 − (1+r)^(−n)) = $340.64.
How to use this calculator
- Enter balance + APR + term.
About this calculator
Student loan monthly payment via standard amortization. Federal Direct loans default to 10-year standard repayment ($30k @ 6.5% = $341/mo). Income-Driven Repayment (IDR) plans (SAVE, PAYE, IBR) base payment on income; can be lower but with longer term + accumulated interest. Refinancing private loans for lower rate is option but eliminates federal protections (deferment, IDR, PSLF).
Frequently asked
Federal: protections (deferment, IDR, PSLF). Higher APR for grads. Private: better rate often, no federal benefits.
Related calculators
Student Loan: Standard vs PSLF
Compare 10-year standard payoff vs. 10-year IDR + PSLF forgiveness for federal loans.
Total Cost of Degree
Tuition + fees + room/board + books + opportunity cost over years.
FAFSA SAI / EFC Estimator
Simplified FAFSA Student Aid Index (formerly EFC) estimate.
529 Plan Growth Projection
Tax-advantaged 529 college savings: monthly contribution + growth over years.
Scholarship Application ROI
Hours spent applying / expected $ won. Compare to part-time wage.
College Tuition Cost Projection
Tuition × (1 + inflation)^years. Plan ahead; tuition has historically risen 5-7%/yr.