Student Loan Repayment Calculator
Calculate monthly payments and total cost for student loans. Compare standard, extended, and income-driven repayment plans.
Federal Student Loan Rates (2024-25)
| Loan Type | Interest Rate | Direct Subsidized (Undergrad)5.50% Direct Unsubsidized (Undergrad)5.50% Direct Unsubsidized (Graduate)7.05% Direct PLUS8.05%
Repayment Plan Comparison
PlanMonthly PaymentTermTotal Paid Standard$34510 years$41,400 Extended$20725 years$62,100 Graduated$198-$59510 years$44,000 | IBR | 10-15% income | 20-25 years | Varies |
*Based on $30,000 loan at 5.5%*
Implementation
``javascript
function calculateStudentLoan(principal, rate, years) {
const monthlyRate = rate / 100 / 12;
const months = years * 12;
const payment = principal *
(monthlyRate * Math.pow(1 + monthlyRate, months)) /
(Math.pow(1 + monthlyRate, months) - 1);
const totalPaid = payment * months;
const totalInterest = totalPaid - principal;
return { payment, totalPaid, totalInterest };
}
``