Student Loan Calculator
Calculate your monthly student loan payment, total interest, and how much you save by paying extra each month.
Enter Your Values
Using shared profile · 3,500/mo · EUR — edit on Dashboard
Results update automatically as you change values.
What-If Scenarios
Results update instantlyCost Breakdown
Loan Balance Over Time
Click chart to expand
Total Interest: Standard vs Extra
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Side-by-Side Comparison
Bars show relative size · ✓ marks the better option- Monthly Payment
- €347
- Payoff Time
- 10 years
- Total Interest
- €10,373
- Total Repaid
- €42,514
- Flexibility
- Higher (lower payment)
- Monthly Payment
- €447
- Payoff Time
- 7 years
- Total Interest
- €7,289
- Total Repaid
- €39,430
- Flexibility
- Lower (committed extra)
| Factor | Standard Plan | Recommended With Extra Payments |
|---|---|---|
| Monthly Payment | €347 | €447 |
| Payoff Time | 10 years | 7 years |
| Total Interest | €10,373 | €7,289 |
| Total Repaid | €42,514 | €39,430 |
| Flexibility | Higher (lower payment) | Lower (committed extra) |
On the standard plan you pay €347/month for 10.0 years and €10373 in interest. Paying an extra €100/month clears the loan in 7.3 years — 2.8 years sooner — and saves €3084 in interest. The trade-off is less flexibility; keep an emergency fund before overpaying.
Scenario Analysis
How the outcome shifts if your assumptions turn out better or worse than expected.
Double the extra payment
At stated values
Higher interest rate
Compare Scenarios
Pin up to 3 and see them side by sideSet your inputs, then Pin current to save this scenario. Pin a few variations to compare their scores and outcomes here.
What Moves the Needle Most
How much each factor changes your Monthly Payment across its full range. Repayment Term has the biggest impact.
Focus your attention on Repayment Term — getting it right matters most. Factors lower down move the result less, so rough estimates there are fine.
Confidence & Assumptions
These are the estimates the result depends on. Adjust them (and the Advanced inputs) to match your real situation — the closer they are to reality, the more reliable your decision.
These estimates are for informational purposes only and do not constitute financial advice. Actual results may vary based on factors not captured in this calculator.
How This Calculator Works
What this calculator does
This calculator shows your monthly student loan payment, the total interest you will pay, and how much time and money you save by paying extra each month. It also accounts for interest that builds up during the grace period.
How the calculation works
We capitalise any interest that accrues during the grace period, calculate the standard monthly payment using the amortisation formula, then simulate the payoff month by month — with and without your extra payment — to show the interest saved.
Formula
Balance After Grace = Loan × (1 + r)^grace months Monthly Payment = P × r × (1+r)^n / ((1+r)^n − 1) r = monthly rate, n = term in months Extra payments reduce principal faster, cutting total interest
Example
€30,000 at 6% over 10 years after a 6-month grace period: payment ≈ €335/month, total interest ≈ €10,900. Paying €100 extra/month clears it ~2.5 years sooner and saves ~€2,900 in interest.
How to Use This Calculator
- 1Enter your numbers
Fill in the inputs for Student Loan Calculator. Defaults are realistic starting points — replace them with your actual figures.
- 2Understand the calculation
We capitalise any interest that accrues during the grace period, calculate the standard monthly payment using the amortisation formula, then simulate the payoff month by month — with and without your extra payment — to show the interest saved.
- 3Review results and scenarios
Check metrics, cost breakdown, comparison tables, and best / expected / worst scenarios. Use sliders to stress-test assumptions.
- 4Decide with the verdict
Read the decision engine recommendation and FAQ. Example: €30,000 at 6% over 10 years after a 6-month grace period: payment ≈ €335/month, total interest ≈ €10,900. Paying €100 extra/month clears it ~2.5 years sooner and saves ~€2,900 in interest.
Factors to Consider
- Interest during the grace period is added to your balance
- Shorter terms mean higher payments but far less interest
- Even small extra payments save significant interest
- Variable rates can increase your payment over time
- Keep payments under ~15% of take-home pay
Common Mistakes
- Ignoring grace-period interest that compounds
- Choosing the longest term for a low payment
- Not making extra payments early when they help most
- Refinancing without checking fees and lost protections
- Forgetting the loan when budgeting for other goals
Frequently Asked Questions
Should I pay off my student loan early?+
If the interest rate is higher than what you could earn investing (after tax), paying extra usually wins. Keep an emergency fund first, and check there are no prepayment penalties.
What is a grace period?+
A grace period is the time after graduation before repayment begins, often 6 months. Interest usually still accrues and is added to your balance, so you pay interest on interest.
How much of my income should go to loan payments?+
A common guideline is to keep total debt payments under 15-20% of take-home pay. Higher than that and the loan may crowd out other financial goals.
This calculator provides estimates for informational purposes only and does not constitute financial, investment, tax, or legal advice. Always consult a qualified professional before making important financial decisions.
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