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Student Loan Calculator
Calculate monthly payments, total interest, and payoff timeline for student loans
Loan Details
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Student Loan Information
Federal Student Loans
Federal student loans typically have fixed interest rates and offer flexible repayment options including income-driven plans, deferment, and loan forgiveness programs.
Private Student Loans
Private loans may have variable or fixed rates and typically require credit checks. They offer less flexibility than federal loans but may have competitive rates for borrowers with good credit.
Repayment Strategies
Making extra payments toward principal can significantly reduce total interest paid. Consider the avalanche method (highest interest first) or snowball method (smallest balance first).
Typical Student Loan Rates (2024)
Federal Direct Subsidized/Unsubsidized
Undergraduate: 5.50% - 6.50%
Graduate: 7.05% - 8.05%
Federal PLUS Loans
Parents: 8.05% - 9.00%
Graduate: 8.05% - 9.00%
Private Loans (Fixed)
3.50% - 14.50% (credit-based)
Private Loans (Variable)
2.50% - 13.00% (credit-based)