Loan Payment Calculator
This loan payment calculator shows the monthly loan payment, total interest paid and total payments based on the interest rate and length of the repayment term. It assumes level amortization, where every payment is the same. This includes the standard and extended repayment plans for student loans. Although intended as a student loan calculator, this loan payment calculator also works for mortgages.
This calculator is provided for informational purposes only. Calculated results are based on many factors, including the assumptions provided by the user. We cannot and do not provide any guarantees, conditions or warranties as to result accuracy or applicability to the user's particular circumstances. It is the responsibility of the user to verify that all of the output and resulting calculations are correct. This calculator should not be used by anyone to make material financial decisions and should be used solely for informational purposes. Actual terms will be set by your lender or your school. We encourage any user to seek personalized advice from qualified professionals regarding all personal finance issues.
The results of this calculator are not based on any information provided by or an affiliation with any school.