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How it works
Formula & explanation
Student Loan Calculator uses the following calculation:
M = P × [ r(1+r)n ] / [ (1+r)n − 1 ]
This is a simplified model intended for planning and education. Real-world offers from lenders, institutions, or tax authorities may include additional fees, rules, or adjustments not reflected here.
FAQ
Frequently asked questions
What's the standard federal repayment term?
The standard plan is typically 10 years, though income-driven and extended plans can stretch repayment longer at a lower monthly cost.
Does interest accrue while I'm in school?
On unsubsidized loans, yes; on subsidized federal loans, the government typically covers interest while you're enrolled at least half-time.
Is student loan interest tax-deductible?
Up to a capped annual amount may be deductible depending on your income — check current IRS rules or consult a tax professional.
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