Federal student loans come with several fixed repayment schedules, and the one you choose can change your total cost by tens of thousands of dollars. A lower monthly payment almost always means more interest over the life of the loan. This student loan calculator puts the main fixed plans side by side: the 10-year Standard and Graduated plans, the 25-year Extended plan, and the new Tiered Standard plan for loans made from July 2026. It shows each plan’s payment, total interest and a year-by-year payoff schedule.
How to use the student loan calculator
- Enter your total loan balance. Add up all the federal loans you will repay together.
- Enter the interest rate. If your loans carry different rates, use the balance-weighted average. That is what a Direct Consolidation Loan uses, rounded up to the next 1/8%.
- Choose a repayment plan, or a custom term for a private loan or refinance.
- Optionally add an extra payment to see how much time and interest it saves.
Federal repayment plans at a glance
| Plan | Term | How payments work |
|---|---|---|
| Standard | 10 years | Fixed payment |
| Graduated | 10 years | Starts low, rises every 2 years |
| Extended | Up to 25 years | Fixed or graduated; requires over $30,000 in loans |
| Tiered Standard | 10–25 years by balance | Fixed; for loans made on or after July 1, 2026 |
Tiered Standard terms are set by your total principal: under $25,000, 10 years; $25,000–$49,999, 15 years; $50,000–$99,999, 20 years; $100,000 or more, 25 years. Income-based plans, IBR for existing borrowers and the new Repayment Assistance Plan, tie payments to income instead and aren’t modeled here.
The fixed-payment formula is:
Worked example
A $35,000 balance at 6.52%:
| Plan | Monthly payment | Total interest | Total repaid |
|---|---|---|---|
| Standard, 10 years | $397.77 | $12,732.90 | $47,732.90 |
| Graduated, 10 years | $228.75 → $686.24 | $16,207.79 | $51,207.79 |
| Tiered Standard, 15 years | $305.27 | $19,949.05 | $54,949.05 |
| Extended, 25 years | $236.76 | $36,028.03 | $71,028.03 |
In the first month, $190.17 of interest accrues ($35,000 × 6.52% ÷ 12). On the Standard plan, $207.60 of the $397.77 payment reduces principal right away. On the Graduated plan’s $228.75 starting payment, only about $39 does. Adding $100 a month to the Standard plan clears the loan in 7 years, 5 months and saves $3,517.
Choosing a plan
- Can afford the Standard payment? It is usually the cheapest fixed plan and qualifies for Public Service Loan Forgiveness if you are on a pre-2026 loan.
- Income expected to rise quickly? The Graduated plan matches payments to a growing paycheck, at the cost of more interest.
- Need a lower payment for years? Compare the Extended or Tiered plan with an income-based plan. Income-based payments can be much lower and may lead to forgiveness after 20 to 30 years.
- Thinking of refinancing privately? Use the custom term to compare, but remember that private loans lose federal protections such as income-based repayment, deferment and forgiveness.
Lenders count your student loan payment in your debt-to-income ratio, so a lower payment can help you qualify for a mortgage. If you are juggling student loans with other debts, the debt payoff calculator shows the best order to attack them.
Estimates only, not financial advice. The U.S. Department of Education and your servicer determine your exact plan options and payments; check studentaid.gov for your loan details.
Frequently asked questions
What is the federal student loan interest rate for 2026–27?
For Direct Subsidized and Unsubsidized loans to undergraduates first disbursed from July 1, 2026, through June 30, 2027, the fixed rate is 6.52%. Graduate unsubsidized loans are 8.07% and PLUS loans 9.07%. The rates are set each year from the May 10-year Treasury auction plus a fixed add-on.
What is the monthly payment on $35,000 of student loans?
At 6.52%, the 10-year Standard plan costs $397.77 a month, with $12,733 of total interest. The Tiered Standard plan for new borrowers stretches that balance to 15 years at $305.27 a month but adds about $7,200 of interest. Extended repayment over 25 years drops the payment to $236.76, but interest nearly triples to $36,028.
What changed for student loans on July 1, 2026?
Under the One Big Beautiful Bill Act, borrowers who take out a federal loan on or after July 1, 2026, can choose only two plans. One is a Tiered Standard plan with a 10- to 25-year term set by balance; the other is the income-based Repayment Assistance Plan (RAP). Graduated, Extended and the older income-driven plans are closed to them. Borrowers with only earlier loans keep their existing options for now.
How does the Graduated plan work?
Payments start low and rise every two years over 10 years. Federal rules require every payment to cover at least the monthly interest, and no payment can be more than three times any other. Because early payments barely reduce the balance, total interest is higher than on the Standard plan, $16,208 versus $12,733 in the default example.
Should I pay extra on my student loans?
Extra payments go to principal once accrued interest is covered, and federal loans have no prepayment penalty. Adding $100 a month to a $35,000 Standard-plan loan at 6.52% pays it off in 7 years and 5 months and saves about $3,517. If you are pursuing Public Service Loan Forgiveness, extra payments usually don't help.