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        1. Discover Student Loans
          Discover Student Loans

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          Monthly Payment Calculator

          Use this calculator to estimate your monthly loan payment and see a breakdown of your payments over the life of the loan.

          Repayment Report

          Below is a summary of your repayment schedule for the loan you have selected.
          The schedules calculated here are estimates only.

          Student Loan Summary
          Loan Type:
          Stafford Loan - Unsubsidized
          Loan Amount:
          $100,000.00
          Interest Rate:
          8.000%
          Repayment Term:
          5 Years
          Years Until Graduation:
          6 Years
          Repayment Plan:
          Standard Repayment Plan
          Monthly Payment:
          $1,250.00
          Cost of the Loan:
          $125,000.00
          Principal Paid:
          $100,000.00
          Interest Paid:
          $25,000.00

          Monthly Payment Schedule for Life of Loan

          Month Principal Payment Interest Payment Total Payment Ending Balance
                  $125,000.00
          1 $250.00
          $1,000.00 $1,250.00 $123,750.00
          2 $250.00
          $1,000.00 $1,250.00 $122,500.00
          3 $300.00
          $1,100.00 $1,400.00 $121,100.00
                   
          Help Icon Loan Type Close

          Private student loans supplement federal loans and other financial aid. You can apply for a private loan on your own. By adding a cosigner, you may improve your chance for loan approval and may receive a lower interest rate.

          Loan Type

          Private student loans supplement federal loans and other financial aid. You can apply for a private loan on your own. By adding a cosigner, you may improve your chance for loan approval and may receive a lower interest rate.

          Interest

          The amount charged to borrow money over time. Typically you have the option to pay interest while in school or postpone your interest payments until entering repayment. Any unpaid interest will be capitalized - added to your principal balance - when repayment begins.

          Principal

          The original or unpaid amount of a loan upon which interest is calculated. It may include capitalized interest. Interest that remains unpaid at the end of an in-school period on private student loans will be capitalized - added to your principal balance - when repayment begins.

          Loan Amount

          The original amount borrowed for an individual loan, including any fees.

          Interest Rate

          The amount charged to borrow money over time, expressed as an annual percentage of the principal amount owed. This calculator does not adjust for variable rates which may increase or decrease your monthly payment when the rate changes.

          Years Until Graduation

          If you are a student, select the number of years you plan to be enrolled until you graduate. If you are a parent, select the number of years your child plans to be enrolled until graduating.

          Monthly Payment

          This is your estimated monthly payment which includes principal and accrued (accumulated) interest. Student loans typically have a required minimum monthly payment of $50.00. If the estimated monthly payment is less than the minimum, your estimate will reflect $50.00 and your repayment term may be shortened.

          Repayment Term

          The amount of time the borrower is scheduled to repay the principal balance and interest on a loan. The following repayment terms represent the maximum time period typically allowed to pay off a student loan. You can always pay more than the minimum amount due to reduce your balance and interest cost, and ultimately pay off your loan earlier with no penalties. Terms vary among lenders.

          Loan Type Typical Repayment Terms
          Private 15 to 20 years

          Loan Information

          View Rates

          Provide Loan Information to Update Graph
          Total Loan Cost
          $90,000
          $80,000
          $70,000
          $60,000
          $50,000
          $40,000
          $30,000
          $20,000
          $10,000
          $0
          $100,000
          Interest Help Icon Interest Principal Help Icon Principal

          IMPORTANT FACTS: This calculator provides estimates intended for use only as a planning guide. Results are based on a standard repayment plan, where you pay a fixed amount of principal and interest every month for a set number of months, based on your loan term, and assumes:

          • A fixed interest rate and does not account for a variable interest rate;
          • No fees and no payments are applied toward principal or interest while in school or during your 6 or 9-month grace period;
          • Your final year of study is 9-months long; and
          • A minimum monthly payment amount of $50.00.

          We do not guarantee the calculator's accuracy or applicability to your circumstances, and we encourage you to consult a qualified professional for assistance in analyzing your overall financial situation.


          Did You Know?

          Interested in Private Student Loans?

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