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 PLUS | 8.05% |
Repayment Plan Comparison
| Plan | Monthly Payment | Term | Total Paid |
|---|---|---|---|
| Standard | $345 | 10 years | $41,400 |
| Extended | $207 | 25 years | $62,100 |
| Graduated | $198-$595 | 10 years | $44,000 |
| IBR | 10-15% income | 20-25 years | Varies |
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 };
}
``