What is my student loan payment?

Your monthly payment on the standard plan, total interest, and a year-by-year payoff schedule — using the 2026–27 federal Direct Loan rates.

Your total student loan balance at repayment start.

Federal Direct undergraduate loans are 6.52% for 2026–27; graduate loans 8.07%; PLUS 9.07%.

The standard plan is 10 years. Longer terms mean lower payments but more total interest.

Estimate only — not financial advice. This calculator uses standard amortization math and the federal Direct Loan rates in effect for 2026–27 (undergraduate 6.52%, graduate 8.07%, PLUS 9.07%, source: Federal Student Aid). Your actual rate is fixed when your loan is first disbursed and never changes for that loan. Origination fees (1.057% for Direct loans, 4.228% for PLUS) are not included in the payment.

How the payment is worked out

The monthly payment comes from three numbers: how much you owe, the interest rate, and how many months you take to pay it off. The standard federal plan is 10 years — that is the baseline every other plan is measured against.

Federal rates are fixed for the life of each loan: undergraduate Direct Loans disbursed July 1, 2026 to June 30, 2027 carry 6.52%; graduate Direct Unsubsidized loans 8.07%; Direct PLUS loans 9.07%. A new rate is set every July, but it only applies to new loans — your existing loans never change rate.

Stretching the term lowers the payment but raises the total cost. On a $30,000 loan at 6.52%, the 10-year payment is about $341 a month and the total interest is about $10,914; over 20 years the payment falls to about $224, but the total interest roughly doubles. If the standard payment is too high, income-driven repayment (RAP or IBR) may cut it far more than a longer term can — compare them before you extend.

Frequently asked questions

How is the monthly payment calculated?

It uses the standard amortization formula: the loan balance, the annual interest rate, and the number of months. Each month you pay interest on the remaining balance plus a slice of principal, so the payment stays the same while the mix changes.

What is the current federal student loan interest rate?

For loans first disbursed July 1, 2026 to June 30, 2027: undergraduate Direct Subsidized and Unsubsidized loans are 6.52% fixed; graduate Direct Unsubsidized loans are 8.07%; Direct PLUS loans are 9.07%. Rates are fixed for the life of each loan once it is disbursed — a new rate each July only affects new loans.

Can I use this for federal student loans?

Yes, if your loans are federal Direct Loans. Use the standard plan as the baseline, then compare it with RAP and IBR in the income-driven repayment calculator — the payment can be much lower, but the loan lasts far longer.

Why does a longer loan term cost more overall?

You pay interest for more months, and the balance falls more slowly, so interest accrues on a larger balance for longer. The monthly payment drops, but the total interest — and the total cost of the loan — goes up.

Are loan fees included?

Federal Direct Loans charge a 1.057% origination fee (4.228% for PLUS loans), deducted from the disbursement. It is small enough that most payment estimates leave it out, but it is real money on a large loan.

Is this monthly payment the exact amount I will pay?

It is a close estimate. Your servicer's exact payment depends on the balance at repayment start (including any interest that accrued while you were in school) and the rate fixed when your loan was disbursed.

Where to go next

RAP vs IBR Calculator

The standard payment is only one option. Compare it with RAP and IBR under the 2026 rules.

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StudentAid.gov (official)

Federal Student Aid — check your actual loans, your servicer, and your rate.

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Free tools from the same family, plus the official federal site. These links open in a new tab; we earn nothing from them.