Estimate your monthly student loan payment, total interest, and repayment schedule for a federal or private education loan under a standard repayment plan.
The standard federal repayment plan spreads payments over 10 years. Other federal plans, including income-driven options, can extend repayment to 20-25 years with payments tied to income rather than a fixed amortization schedule.
Not directly — this models a standard fixed-payment amortizing loan. Income-driven plans calculate your payment as a percentage of discretionary income instead, so your actual payment under those plans may differ from a fixed amortization estimate.
Federal student loans issued since 2006 carry fixed rates set annually by Congress. Private student loans may offer either fixed or variable rates, with variable rates carrying the risk of increasing over the life of the loan.