What is the standard repayment term?

The standard federal student loan repayment term is 10 years (120 payments). Extended plans go up to 25 or 30 years.

Can I pay extra each month?

Yes, making extra payments reduces total interest and shortens the loan term. Specify that extra payments go toward principal.

During deferment, interest may still accrue (on unsubsidized loans). This interest capitalizes, increasing your total balance.

Calculate your monthly student loan payment based on loan amount, interest rate, and repayment term using the standard amortization formula.

Loan Amount ($)

Annual Interest Rate (%)

Repayment Term (years)

Monthly Payment

$379.84

Total Amount Paid$45,581.04

Total Interest Paid$10,581.04

Monthly Payment vs Repayment Term (years)

Student loan payments use the standard amortization formula.

Monthly Payment = P x r x (1+r)^n / ((1+r)^n - 1)

Where P = principal, r = monthly rate, n = total payments.

This formula ensures equal monthly payments over the life of the loan.

A $35,000 student loan at 5.5% interest over 10 years.

01Monthly rate = 5.5% / 12 = 0.004583
02Number of payments = 10 x 12 = 120
03Monthly payment = 35000 x 0.004583 x (1.004583)^120 / ((1.004583)^120 - 1) = $379.60
04Total paid = $379.60 x 120 = $45,552
05Total interest = $45,552 - $35,000 = $10,552