Debt
Student Loan Calculator
A $30,000 balance at 5.5% on the standard 10-year plan is about $326 a month. Over those ten years you'd pay $9,069 in interest, so the loan costs $39,069 in total.
Enter your balance, rate and term below. Stretching the term lowers the monthly payment but adds interest.
$326
a month
You borrowed$30,000
Interest over the term−$9,069
Total you repay$39,069
The longer term trap
Extending a student loan to 20 or 25 years makes the monthly payment feel manageable, and sometimes that is the right call while you get on your feet. Just know the trade. Drag the term slider and watch the interest climb while the payment falls. Any month you can send a little extra, it goes straight at the balance and shortens the whole thing. If you have several loans, the same snowball and avalanche ideas from our debt guide apply here too.
Assumes a fixed rate and standard repayment. Income-driven plans work differently. Not financial advice.
Common questions
How long to pay off student loans?
The standard federal plan is 10 years. Income-driven plans stretch it out and lower the payment, but add interest, so extra payments help a lot.