Student loan calculator
A $30,000 student loan at 6.52% on the 10-year Standard plan costs $340.95 a month. Total interest is $10,914. Add $100 a month and it's paid off in 7 years 2 months. That saves $3,359.
120 payments · Total interest $10,914 · Total paid $40,914
New loans after July 1, 2026 on the Tiered Standard plan: a $30,000 balance gets a 15-year term.
How the payment is calculated
Federal Direct Loans have a fixed rate. Most private student loans do too. So a level payment uses the amortization formula Payment = P × r ÷ (1 − (1 + r)^−n).
- Monthly rate: 6.52% ÷ 12 = 0.005433.
- Number of payments: 10 years × 12 = 120.
- Payment: $30,000 × 0.005433 ÷ (1 − (1 + 0.005433)^−120) = $340.95.
- First payment: $163.00 interest and $177.95 principal.
- Total repaid: $340.95 × 120 = $40,914.
Unsubsidized loans build interest while you're in school and during the grace period. Sometimes that unpaid interest is added to the balance when repayment starts. If so, enter the higher balance.
2026–27 federal student loan rates
| Loan type | Fixed rate | 10-year payment on $30,000 |
|---|---|---|
| Direct Loans, undergraduate | 6.52% | $340.95 |
| Direct Unsubsidized, graduate | 8.07% | $365.09 |
| Direct PLUS (parents, graduate) | 9.07% | $381.16 |
Rates apply to loans first disbursed July 1, 2026 through June 30, 2027. They stay fixed for the life of the loan. Older loans keep the rate they were issued at. Source: StudentAid.gov interest rates.
What changed under the 2025 law
The One Big Beautiful Bill Act, signed in July 2025, changes federal repayment. Some borrowers take out their first new loan on or after July 1, 2026. For them, the choices narrow to two plans:
- Tiered Standard plan: fixed payments over 10, 15, 20 or 25 years. The term depends on the total federal balance (under $25,000: 10 years; $25,000–$49,999: 15; $50,000–$99,999: 20; $100,000 or more: 25).
- Repayment Assistance Plan (RAP): an income-driven plan. Payments are based on adjusted gross income.
Existing borrowers can generally keep the original 10-year Standard plan. Older income-driven plans are being phased out over the next few years. The law also changes borrowing limits for graduate students and parents. Rules and timelines are still being put in place. So confirm your options with your servicer and StudentAid.gov.
Here's what the new plan does to the example. Under the Tiered Standard plan, $30,000 would be repaid over 15 years at about $261.66 a month. Interest would be $17,099, versus $10,914 over 10 years. In other words, the lower payment costs more in the end.
Payment by balance (6.52%)
| Balance | 10-year Standard | Interest (10 yr) | Tiered Standard term | Tiered payment |
|---|---|---|---|---|
| $10,000 | $113.65 | $3,638 | 10 years | $113.65 |
| $20,000 | $227.30 | $7,276 | 10 years | $227.30 |
| $30,000 | $340.95 | $10,914 | 15 years | $261.66 |
| $40,000 | $454.60 | $14,552 | 15 years | $348.88 |
| $60,000 | $681.90 | $21,828 | 20 years | $448.05 |
| $80,000 | $909.20 | $29,104 | 20 years | $597.40 |
| $100,000 | $1,136.50 | $36,380 | 25 years | $676.46 |
| $150,000 | $1,704.75 | $54,570 | 25 years | $1,014.69 |
Frequently asked questions
What is the standard repayment plan for federal student loans?
The traditional Standard plan spreads fixed payments over up to 10 years. New borrowers from July 1, 2026 get a Tiered Standard plan instead. Its term runs from 10 to 25 years, based on how much they owe.
What is the monthly payment on $30,000 in student loans?
About $340.95 over 10 years at 6.52%, the 2026–27 undergraduate rate. Over 15 years it's about $261.66. But total interest rises to $17,099.
Do extra payments go to principal?
Federal servicers apply payments to fees and accrued interest first. Then principal. You can ask your servicer to put extra amounts toward principal. You can also ask it not to advance your due date.
Does this calculator handle income-driven plans?
No. Payments on RAP and other income-driven plans depend on your income and family size. For those, use the Loan Simulator on StudentAid.gov.
Are private student loans calculated the same way?
Fixed-rate private loans use the same formula. Variable-rate loans change with market rates. So for those, the payment shown is only an estimate at today's rate.
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Updated: October 2, 2026 · Sources and methodology