Student Loan Calculator | DailyToolDesk

Student loan repayment planning

This page estimates fixed-payment amortization. Federal student loans may also have income-driven repayment, deferment, forbearance, forgiveness or subsidy rules that are not modeled here.

Worked example

A $38,000 balance at 6.8% for 10 years produces a standard amortized payment. Adding $50 or $100 per month shortens the payoff timeline and reduces interest in the scenario table.

Methodology

The calculator uses the standard amortization formula and then simulates monthly payoff when extra payments are added. It does not estimate federal income-driven plans or forgiveness.

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Sources and review

Last reviewed: August 16, 2026.

See the calculator methodology and data sources pages.

Frequently asked questions

Does this calculate SAVE or income-driven repayment?

No. It estimates fixed amortized repayment only. Use Federal Student Aid for official federal repayment plan details.

Does extra payment go to principal?

The estimate assumes extra payment reduces principal after monthly interest. Servicer rules can vary.

Does this cover private loans?

It can estimate fixed private loan payments if the APR, term and balance are known.