The true cost of your student loans includes far more than the original balance — interest accrues over years and can add up to tens of thousands of dollars. This calculator computes your standard monthly payment and shows exactly how much interest you'll pay in total over the life of the loan.
Enter Your Measurements
Results
Monthly Payment
397.42
$
Total Amount Paid
47,690.15
$
Total Interest Paid
12,690.15
$
Formula
How to Use This Calculator
How to Use
- 1
Enter your total student loan balance.
- 2
Enter the annual interest rate on your loan.
- 3
Select or enter the repayment term in years (standard is 10 years).
- 4
See your monthly payment and total interest cost over the full term.
Frequently Asked Questions
Frequently Asked Questions
How can I reduce total interest paid?
Why does a 10-year vs 20-year term matter so much?
In-Depth Guides
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About This Calculator
This calculator uses the formula: Monthly Payment = P × [r(1+r)^n] / [(1+r)^n − 1] Total Interest = (Monthly Payment × n) − Principal. All calculations follow industry-standard methods. Results are estimates — always verify with a licensed professional for structural or code-compliant work.
Built and maintained by the CalcSmart team. Last updated March 2026.
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