Student Loan Calculator
Calculate your student loan monthly payments, total interest and time to pay off.
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Frequently Asked Questions
What is the average student loan debt?
The average US student loan borrower owes approximately $37,000. Federal student loans for undergraduates are capped at $31,000 for dependent students and $57,500 for independent students. Graduate students can borrow significantly more.
Should I pay off student loans or invest?
If your student loan rate is below 6%, investing in an index fund earning 7-10% historically makes more financial sense. If your rate is above 6-7%, paying off debt first is usually better. High-interest private loans should always be prioritized.
What is income-driven repayment?
Income-driven repayment (IDR) plans cap federal student loan payments at 5-20% of your discretionary income. Plans include SAVE, PAYE, IBR and ICR. After 10-25 years of qualifying payments, any remaining balance may be forgiven. IDR is best for low income relative to debt.