{
    "name": "Student Loan Calculator",
    "url": "https://calculators.geekmidst.com/calculators/student-loan-calculator",
    "markdown": "https://calculators.geekmidst.com/calculators/student-loan-calculator.md",
    "category": "Finance",
    "description": "Work out a student loan’s monthly payment, the interest that builds up before repayment starts, and how much time and interest extra payments save.",
    "summary": "Interest on most student loans starts before you repay. It is added to the balance when repayment begins, so the payment is worked out on a larger amount.",
    "also_called": [
        "Student loan payoff calculator",
        "Education loan calculator"
    ],
    "applies_to": "Worldwide",
    "last_updated": "2026-10-29",
    "computation": "Results are computed in the visitor’s browser on the HTML page. This API describes the calculator; it does not compute results.",
    "inputs": [
        {
            "name": "balance",
            "label": "Amount borrowed",
            "type": "number",
            "default": "30000"
        },
        {
            "name": "rate",
            "label": "Interest rate (per year)",
            "type": "number",
            "default": "6",
            "unit": "%"
        },
        {
            "name": "defer_months",
            "label": "Months until repayment starts",
            "type": "number",
            "default": "0",
            "unit": "months",
            "optional": true
        },
        {
            "name": "defer_interest",
            "label": "Interest before repayment",
            "type": "segmented",
            "default": "capitalize",
            "options": {
                "capitalize": "Builds up and is added",
                "none": "None (subsidised or paid)"
            }
        },
        {
            "name": "years",
            "label": "Repayment term",
            "type": "number",
            "default": "10",
            "unit": "years"
        },
        {
            "name": "extra",
            "label": "Extra monthly payment",
            "type": "number",
            "default": "0",
            "optional": true
        },
        {
            "name": "currency",
            "label": "Currency",
            "type": "currency",
            "default": "USD"
        }
    ],
    "outputs": [
        {
            "key": "payment",
            "label": "Monthly payment",
            "format": "currency"
        },
        {
            "key": "balance_at_repayment",
            "label": "Balance when repayment starts",
            "format": "currency"
        },
        {
            "key": "accrued_interest",
            "label": "Interest added before repayment",
            "format": "currency"
        },
        {
            "key": "total_interest",
            "label": "Total interest (no extra payments)",
            "format": "currency"
        },
        {
            "key": "total_paid",
            "label": "Total repaid (no extra payments)",
            "format": "currency"
        },
        {
            "key": "payoff_time",
            "label": "Payoff time with extra payments",
            "format": "text"
        },
        {
            "key": "payoff_months",
            "label": "Months with extra payments",
            "format": "integer"
        },
        {
            "key": "interest_with_extra",
            "label": "Total interest with extra payments",
            "format": "currency"
        },
        {
            "key": "interest_saved",
            "label": "Interest saved by extra payments",
            "format": "currency"
        }
    ],
    "formula": {
        "text": "Accrued = B × rate × months ÷ 12 (simple interest);  P = B + Accrued;  Payment = P × r ÷ (1 − (1 + r)^−n);  with extra payments the balance is paid down month by month at Payment + Extra",
        "variables": {
            "B": "amount borrowed",
            "r": "annual rate ÷ 12",
            "n": "repayment term in months"
        }
    },
    "worked_example": {
        "inputs": {
            "balance": "30000",
            "rate": "6",
            "defer_months": "12",
            "defer_interest": "capitalize",
            "years": "10",
            "extra": "0",
            "currency": "USD"
        },
        "steps": [
            "Interest before repayment = 30,000 × 6% × 12 ÷ 12 = 1,800, so repayment starts at 31,800.",
            "Payment = 31,800 × 0.005 ÷ (1 − 1.005^−120) = 353.05 a month.",
            "Total repaid = 353.0452 × 120 = 42,365.42; interest = 42,365.42 − 30,000 = 12,365.42."
        ],
        "result": "Borrowing $30,000 at 6% with a year before repayment means a $353.05 monthly payment over 10 years and about $12,365 of interest."
    },
    "interpretation": "Paying the interest while you are still studying stops it being added to the balance and lowers every later payment. After that, extra payments go straight to principal and shorten the loan.",
    "assumptions": [
        "A single loan with a fixed rate.",
        "Interest before repayment is simple interest, added to the balance once when repayment starts.",
        "A standard level-payment plan; extra payments go to principal."
    ],
    "limitations": [
        "Income-driven repayment plans, forgiveness programmes and interest subsidies are not modelled.",
        "Rules differ by country and lender (for example, UK student loans are repaid as a share of income); check your loan terms."
    ],
    "rules": null,
    "faqs": [
        {
            "question": "What does capitalised interest mean?",
            "answer": "Interest that has built up is added to the principal, so you then pay interest on it as well. It typically happens when a grace or deferment period ends."
        },
        {
            "question": "Should I pay extra on student loans or invest?",
            "answer": "Compare the loan’s rate with the after-tax return you could reasonably expect. Paying off a loan is a guaranteed return equal to its interest rate."
        }
    ],
    "sources": [
        {
            "title": "Federal Student Aid (US Department of Education)",
            "url": "https://studentaid.gov/"
        }
    ],
    "related": [
        {
            "name": "Repayment Calculator",
            "url": "https://calculators.geekmidst.com/calculators/repayment-calculator"
        },
        {
            "name": "College Cost Calculator",
            "url": "https://calculators.geekmidst.com/calculators/college-cost-calculator"
        },
        {
            "name": "EMI Calculator",
            "url": "https://calculators.geekmidst.com/calculators/emi-calculator"
        },
        {
            "name": "Loan Amortization Calculator",
            "url": "https://calculators.geekmidst.com/calculators/loan-amortization-calculator"
        },
        {
            "name": "Student Loan Repayment After Graduation Calculator",
            "url": "https://calculators.geekmidst.com/calculators/student-loan-repayment-after-graduation-calculator"
        },
        {
            "name": "Education Loan EMI Calculator",
            "url": "https://calculators.geekmidst.com/calculators/india-education-loan-emi-calculator"
        }
    ],
    "disclaimer": "This calculator gives estimates for planning. It is not financial advice, and lenders’ actual terms, fees and rounding may differ.",
    "publisher": "GM¹X CalcVerse"
}