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Student Loans Calculator

With Lendstart’s student loan calculator, you can estimate the overall cost of the loan to find out what works best for you.

Student Loans Calculator

Loan amount


Term in months


Interest rate per year



Monthly payment


Total paid


Interest paid

Month Balance Interest Principal
1 $10000.00 $37.50 $816.29
2 $9183.71 $34.44 $819.35
3 $8364.37 $31.37 $822.42
4 $7541.95 $28.28 $825.50
5 $6716.45 $25.19 $828.60
6 $5887.85 $22.08 $831.71
7 $5056.14 $18.96 $834.82
8 $4221.32 $15.83 $837.96
9 $3383.36 $12.69 $841.10
10 $2542.26 $9.53 $844.25
11 $1698.01 $6.37 $847.42
12 $850.60 $3.19 $850.60

How to Use a Student Loan Calculator

Most student loan calculators require some basic information to estimate what your monthly payments will be. This includes:

  • Loan amount: This refers to the total amount borrowed before interest.
  • Loan terms (months or years): The term indicates how many payments you’ll make on the loan. Payments are usually monthly. So, if your loan term is for 12 months, or one year, you’ll make 12 payments.
  • Annual Interest Rate: Your monthly payments will include both the principal balance and the interest rate. Most student loans express interest as APR. To figure out your monthly interest rate, take the APR and divide it by 12.

Knowing this information can help you successfully budget for the loan. It can also help you determine your borrowing limits.
Some online calculators also ask for other information, such as:

  • Borrower’s annual income: This can give you an estimate of how much you can afford to pay each month or year.
  • Debt-to-income ratio or other monthly obligations: This includes things like credit cards, real estate mortgages, and other debts or expenses. It also helps determine what you can realistically afford.
  • Pay Frequency: The pay frequency influences the loan terms. Some loans require one monthly payment, while others require more.
  • Fees: Many commercial loans come with other charges, such as an origination fee or documentation fees. These fees are usually already included in the monthly payment amount. Inputting the information in a calculator can tell you how much money you’re paying towards fees vs. the principal.

With the student loan calculator, you can map out your strategy for repaying the loan from start to finish. Plus, if you check the amortization schedule, you can get a detailed idea of your monthly schedule leading up to the final payoff date.