Student Loan Simulator

Student Loan Calculator

Estimate your monthly payments and total loan costs

Calculating for: Health and Medical Administrative Services.

Compare Loan Types & Scenarios

Loan Type Interest Rate Who Qualifies Pros Cons
Federal Direct Subsidized 4.5% - 5.5% Undergrads with financial need ✓ Government pays interest while in school
✓ Flexible repayment options		 Limited borrowing amounts
Federal Direct Unsubsidized 5.5% - 6.5% All students ✓ No credit check required
✓ Flexible repayment plans		 Interest accrues during school
Federal PLUS (Parents/Grad) 7.0% - 8.0% Graduate students, Parents ✓ Can cover full cost
✓ Federal protections		 Higher interest rate
Credit check required
Private Loans 6.0% - 14.0% Anyone with good credit ✓ Can cover gaps
✓ Competitive rates for good credit		 No federal protections
Variable rates possible
Tip: Always exhaust federal loan options before considering private loans. Federal loans offer better protections, flexible repayment, and potential forgiveness programs.

Loan Parameters

Enter the total amount you plan to borrow
Quick presets:
Standard repayment is 10 years
$
Pay extra each month to reduce total interest and payoff time
Understanding Your Loan
Standard Repayment Plan

Fixed monthly payments over 10 years. This is the default plan that costs the least in interest over time.

Extended Repayment

Lower monthly payments spread over 15-30 years, but you'll pay more in total interest.

Federal Interest Rates (2024)
  • Undergraduate: ~5.5%
  • Graduate: ~7.0%
  • PLUS Loans: ~8.0%

Enter Your Loan Details

Fill in the loan amount, interest rate, and repayment period to see your estimated monthly payment.

Quick Tip: Federal student loan interest rates are set by Congress and vary by loan type.

Multiple Loans Calculator

Most students have multiple types of loans. Add each loan separately to see your total monthly payment.

Income-Driven Repayment Plans (IDR)

These federal repayment plans base your monthly payment on your income and family size. After 20-25 years of qualifying payments, any remaining balance may be forgiven (taxable).

Your Information

$
$
Your total annual income before taxes
Including you and your spouse (if married)
Affects poverty guideline calculation
Public Service Loan Forgiveness (PSLF)

Work full-time for a qualifying employer (government or non-profit 501(c)(3)) while making 120 qualifying monthly payments under an IDR plan. After 10 years, remaining balance is forgiven tax-free.

PSLF Parameters

$
$
Typical range: 2-5% per year
Out of 120 required
Refinancing Considerations

Refinancing can lower your interest rate and monthly payment, but you'll lose federal protections like IDR plans, forbearance, and forgiveness programs. Only refinance federal loans if you don't need these benefits.

Loan Details

$
Refinancing Options
Depends on credit score and lender

Find Programs That Fit Your Budget

Browse our catalog to find programs with tuition that matches your financial goals

Browse Programs