Each year you take out private student loan debt, you should update your plan to manage your private student loan payments. Use our Private Student Loan Calculator to estimate your monthly payments once repayment begins.
Note: This Private Student Loan Calculator should only be used to estimate your payments. There are many private student loan products with different loan terms available in the marketplace. If your loan terms don’t match up with our Private Student Loan Calculator, contact your lender to help you estimate your monthly payments.
*Calculation assumes that there are no fees and that interest accumulates for a 4-year in school period and 6 months of grace before the repayment period starts. This calculator also assumes that the borrower will make no payments while in school and grace. Note that the interest rate on most private loans is generally variable, which may therefore change the amount of your payment, depending on the fluctuation of interest rates during your loan term.