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Loan Simulator helps you calculate your federal student loan payment and choose a repayment plan that meets your needs and goals.
Figuring out which student loan repayment plan is right for you is a little easier with Loan Simulator, our student loan repayment calculator. The tool helps you review different student loan repayment plans and compare estimated monthly payments, total paid over time, and more.
Loan Repayment Calculator. You can estimate your payments with various interest rates and loan terms using this calculator. Please enter the amount of your loan, the annual interest rate, and the number of repayment months to compute your monthly payment amount.
Your loan servicer will provide you with a loan repayment schedule that states when your first payment is due, the number and frequency of payments, and the amount of each payment. Your billing statement will tell you how much to pay.
Monthly Payment Calculation. Your monthly payments will be based on your eligible federal student loan debt, family size, and your income. Your monthly payment amount will be capped at 10% or 15% of your discretionary income (depending on when you received your first loans).
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Are you struggling with your federal student loan payments? On an income-driven repayment (IDR) plan, your monthly payment is based on your income and family size. Our newest IDR plan, the Saving on a Valuable Education (SAVE) Plan, has unique benefits that can lower payments for many borrowers.
MOHELA offers a variety of options to manage the repayment of your loans including repayment plans and ways to lower your payment or provide temporary relief. To explore options that are available based on situations you may be facing, visit Repayment Options.
To view your loan(s) and your loan type(s), log in to StudentAid.gov and go to your My Aid page. Your loans will tell you which repayment plan you are enrolled in. With your current repayment plan and current monthly payment amount in mind, you can use Loan Simulator to compare what your monthly payments could be on different repayment plans.
Monthly Payment Calculation. Your monthly payments will be based on your eligible federal student loan debt, family size, and your income. Your monthly payment amount will be capped at the lesser of 20% of your discretionary income or the amount you would pay on a repayment plan with a fixed payment over 12 years, adjusted according to your income.