Student Loan Calculator
Calculate student loan repayment schedules and total interest. Compare repayment plans and see how extra payments reduce your student debt.
Cálculo de exemplo
Valores padrão: amount: 50,000 | rate: 4.5 | years: 10
Pagamento mensal
$518
Pagamento total
$62,183
Juros totais
$12,183
Student loan debt affects millions of borrowers. Understanding your repayment schedule helps you create a strategy to pay off your loans efficiently while managing your monthly budget.
Dicas
- 1Pay more than the minimum payment whenever possible to reduce total interest.
- 2Consider the avalanche method — pay off highest-interest loans first to minimize total cost.
- 3Look into income-driven repayment plans if your payments are unmanageable.
- 4Check if your employer offers student loan repayment assistance as a benefit.
- 5Refinancing can lower your rate, but be cautious about losing federal loan protections.
Perguntas frequentes
What is the average student loan debt?
The average student loan debt for bachelor's degree graduates is approximately $30,000-$35,000. Graduate and professional degree holders may owe $80,000-$200,000 or more.
Should I refinance my student loans?
Refinancing makes sense if you can get a significantly lower interest rate and have stable income. However, refinancing federal loans into private loans means losing access to income-driven repayment plans and loan forgiveness programs.
Is student loan interest tax deductible?
You can deduct up to $2,500 in student loan interest per year if your income is below certain thresholds. This deduction is available even if you do not itemize.
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