How to Calculate Student Loan Payments (2026 Guide)
The exact amortisation formula, payment tables by loan amount, and answers to the most common US student loan questions. UK PAYE deductions are a different job — use the UK student loan repayment calculator.
Formula: M = P[r(1+r)^n] / [(1+r)^n−1] A $30,000 loan at 6.5% over 10 years = $340/month.
→ Use our free Student Loan Calculator for your exact payment
Student loan monthly payment table
| Loan Amount | 5.50% — 10yr | 6.50% — 10yr | 7.05% — 10yr | Total Interest (6.5%) |
|---|---|---|---|---|
| $10,000 | $109 | $113 | $116 | $3,600 |
| $20,000 | $218 | $227 | $233 | $7,200 |
| $30,000 | $326 | $340 | $349 | $10,800 |
| $50,000 | $544 | $567 | $582 | $18,000 |
| $75,000 | $815 | $851 | $873 | $27,000 |
| $100,000 | $1,085 | $1,136 | $1,163 | $36,000 |
How repayment term affects your payment (on $30,000 at 6.5%)
| Term | Monthly Payment | Total Interest |
|---|---|---|
| 5 years | $587 | $5,200 |
| 10 years (standard) | $340 | $10,800 |
| 20 years | $224 | $23,700 |
What is the monthly payment on a $30,000 student loan?
At 6.5% over 10 years: $340/month, with $10,800 total interest. At the current federal rate of 5.5%: $326/month.
Is it better to pay off student loans early?
Yes. On a $30,000 loan at 6.5%, paying $100 extra/month saves ~$2,800 in interest and shortens repayment by 2.5 years. Federal loans have no prepayment penalty.