Interactive Calculators: Determine Your Monthly Loan Payment

Determine your monthly payments on your federal student, federal PLUS loan, or private alternative loan. Enter the number of monthly payments (loan term), the interest rate, and the principal (amount of loan) to determine an approximate monthly payment. Check with your loan servicer or lender to see what loan term options are available to you. Terms are usually 10, 15, 20, 25, or 30 years, depending on the loan amount and lender. Some private loan rates may vary, so they may change every month, every three months, or every year. Private loan lenders may also have their own interactive loan payment calculators on their websites specific to their loan products, so check out their websites.