Fixed-Rate Student Loan Payments
Model a student loan repaid through equal monthly payments at a fixed rate. This does not implement Korean student-aid products or US income-driven eligibility, forgiveness and interest subsidies.
- Runs in your browser
- Nothing is uploaded
- No signup; device limits apply
Numbers stay on your device. Nothing is sent to a server.
Standard US plans are often quoted as 10 years. Income-driven plans are a different formula.
How to use this tool
Enter USD principal, annual interest rate and years. If deferred interest has been capitalised, distinguish the original amount borrowed from the actual balance at the start of repayment.
Results and examples
Monthly payments use a standard amortisation formula, with total interest equal to payments minus principal. The result does not forecast income-based adjustments or future variable rates.
Worked example
A USD 12,000 balance at 0% over ten years gives USD 100 per month.
Limitations
- Income-driven plans, subsidies, forgiveness and deferment rules are excluded.
- Capitalisation events, fees and actual repayment-start dates are not modelled.
Fields
| Field | Guidance and constraints |
|---|---|
| Loan balance | Accepted range: 1–10000000 · Input step: 50 |
| Annual interest rate | Accepted range: 0–40 · Input step: 0.01 |
| Repayment years | Standard US plans are often quoted as 10 years. Income-driven plans are a different formula. · Accepted range: 1–30 · Input step: 1 |
Data handling
Processing stays in the current browser tab; the site does not upload tool input for the calculation itself.
Sources
Frequently asked questions
Does it calculate a government programme?
No. It is generic fixed-rate repayment arithmetic.
Which principal should I use?
Check the balance at the repayment starting point you want to compare.
Related tools
You do not need to start over. Continue with the tool that fits your next step.
