Student Loan Calculators & College Planning Tools
Comprehensive student loan and education financing calculators. Plan repayment strategies, compare consolidation options, calculate college ROI, and make smarter education financing decisions.
Student Loan Calculators
Student Loan Repayment Calculator
Compare all repayment plans side-by-side
Calculate payments, total interest, and time to payoff. Compare standard, graduated, extended, and income-driven repayment plans. Find the best strategy for your federal student loans.
Student Loan Scenario Analyzer
Advanced refinancing and payoff strategies
Model complex scenarios: refinancing, extra payments, loan forgiveness, forbearance. Compare private vs federal loans and calculate break-even points for different strategies.
Which Student Loan Calculator Should I Use?
| Calculator | Best For | Time | Complexity | Key Feature |
|---|---|---|---|---|
| Student Loan Repayment Calculator | Comparing repayment plans | 3 min | Easy | Income-driven plans |
| Student Loan Scenario Analyzer | Advanced strategies | 8 min | Advanced | Refinancing & forgiveness |
Find Your Perfect Calculator
🎓 Just Graduated with Federal Student Loans?
→ Use Student Loan Repayment Calculator
- • Best for: Comparing all repayment plans
- • Calculates: Monthly payments for each plan
- • Shows: Total interest and time to payoff
💡 Considering Refinancing or Consolidation?
→ Use Student Loan Scenario Analyzer
- • Best for: Evaluating refinancing options
- • Compares: Private vs federal loans
- • Models: Extra payments and forgiveness scenarios
💰 Want to Make Extra Payments?
→ Use Student Loan Scenario Analyzer
- • Best for: Optimizing extra payments
- • Calculates: Interest savings from extra payments
- • Shows: Years saved with different strategies
📊 On Income-Driven Repayment Plan?
→ Use Student Loan Repayment Calculator
- • Best for: Income-based calculations
- • Calculates: IDR payments by income
- • Models: PAYE, IBR, REPAYE, ICR plans
🤔 Not Sure Where to Start?
Start with Student Loan Repayment Calculator for a basic comparison, then use the Scenario Analyzer for advanced strategies.
Frequently Asked Questions
General Student Loan Questions
Q: Should I refinance federal student loans?
A: Generally no if you need income-driven repayment or loan forgiveness. Yes for private loans or if you have stable high income and want lower rates. Use our Student Loan Scenario Analyzer to compare.
Q: What are income-driven repayment plans?
A: Federal programs capping payments at 10-20% of discretionary income. Remaining balance forgiven after 20-25 years. Plans include PAYE, REPAYE, IBR, and ICR. Use our Student Loan Repayment Calculator to compare them.
Q: How do I qualify for loan forgiveness?
A: Public Service Loan Forgiveness (PSLF) requires 120 qualifying payments while working for a qualifying employer. Income-driven plans offer forgiveness after 20-25 years. Model both with our calculators.
Repayment Strategy Questions
Q: Should I pay off student loans early?
A: Depends on your interest rate and other financial goals. If rate is above 5-6%, prioritize payoff. If below 4%, consider investing instead. Use our Scenario Analyzer to compare strategies.
Q: What is the avalanche vs snowball method?
A: Avalanche: Pay highest interest rate first (saves most money). Snowball: Pay smallest balance first (psychological wins). Our calculators help you model both approaches.
Parent PLUS Loan Questions
Q: How do Parent PLUS loans work?
A: Federal loans for parents. Higher interest rates than student loans (currently 8.05%). Parents are responsible for repayment, not the student. Can consolidate into Direct Consolidation Loan to access income-driven plans.
Q: Can Parent PLUS loans be forgiven?
A: Yes, but only after consolidating into a Direct Consolidation Loan and enrolling in Income-Contingent Repayment (ICR) plan. Forgiveness after 25 years of payments.
Key Student Loan Statistics
Student Debt Landscape
- • Total U.S. student debt: $1.7 trillion
- • Average student loan debt: $37,000
- • Borrowers with student debt: 43 million Americans
- • Average monthly payment: $393
- • Standard repayment term: 10 years
Federal Student Loan Rates (2024-25)
- • Undergraduate Direct Loans: 6.53%
- • Graduate Direct Loans: 8.08%
- • Parent PLUS Loans: 9.08%
- • Income-driven payment cap: 10-20% of discretionary income
- • PSLF qualifying payments: 120 payments (10 years)
Start Planning Your Student Loan Strategy Today
Choose the calculator that fits your situation: