A $30,000 student loan at 5.5% over 10 years costs $326 a month, or $9,070 of interest in total.
- 5 years
- 10 years
- 15 years
| Balance | 5 years | 10 years | 15 years | 20 years | 25 years |
|---|---|---|---|---|---|
| $10,000 | $191 | $109 | $82 | $69 | $61 |
| $15,000 | $287 | $163 | $123 | $103 | $92 |
| $20,000 | $382 | $217 | $163 | $138 | $123 |
| $25,000 | $478 | $271 | $204 | $172 | $154 |
| $30,000 | $573 | $326 | $245 | $206 | $184 |
| $40,000 | $764 | $434 | $327 | $275 | $246 |
| $50,000 | $955 | $543 | $409 | $344 | $307 |
| $60,000 | $1,146 | $651 | $490 | $413 | $368 |
| $75,000 | $1,433 | $814 | $613 | $516 | $461 |
| $100,000 | $1,910 | $1,085 | $817 | $688 | $614 |
How it is computed
Each cell is the standard repayment P = L × r ÷ (1 − (1 + r)^−n), with r the annual rate ÷ 12 and n the number of months. Grace periods, interest relief and income-driven plans are not modelled.
FAQ
Does interest build up during the grace period?+
On many loans, yes: interest accrues after you leave school and is added to the balance before repayment starts. The grace cost calculator estimates it.
Should I choose a longer term?+
A longer term cuts the payment but raises the total interest. Pick the shortest term whose payment you can carry comfortably.