FAFSA Loan Calculator – Estimate Your Federal Student Loan Payment (2026)
If you have been awarded federal student aid through FAFSA and want to know what your monthly loan payment will be, you are in the right place. This guide explains exactly how to calculate your FAFSA loan payment, what the official 2026 interest rates are for every federal loan type, and how your payment changes depending on your balance and repayment plan.
Enter your loan amount, rate, and term to see your monthly payment instantly.
Open Federal Student Loan CalculatorWhat is a FAFSA loan calculator? FAFSA itself is a financial aid application — it does not issue loans directly. It unlocks federal Direct Loans (subsidized and unsubsidized), PLUS Loans, and Pell Grants. A "FAFSA loan calculator" estimates your monthly repayment on the federal loans you receive through the FAFSA process.
Official 2026–2027 Federal Student Loan Interest Rates
The U.S. Department of Education sets federal student loan rates each year based on the May 10-year Treasury Note auction. For loans disbursed on or after July 1, 2026, the official rates are:
These rates are fixed for the life of each loan disbursed in the 2026–2027 academic year. If you borrowed in a prior year, your existing loans keep their original rate — only new disbursements get the new rate.
How to Use This as a FAFSA Repayment Calculator
To calculate your federal student loan payment, you need three numbers from your loan disclosure documents or studentaid.gov account:
- Your loan balance — the total amount you borrowed (not the original loan amount if you have already been making payments)
- Your interest rate — use the official rates above for new 2026 loans, or check studentaid.gov for existing loans
- Your repayment term — Standard Plan is 10 years; Extended Plan is up to 25 years; RAP and IDR plans base payments on income rather than a fixed term
Enter these into our student loan calculator and you will instantly see your monthly payment, total interest, and a full month-by-month repayment schedule.
FAFSA Loan Payment Examples — 2026 Rates
| Loan Type | Balance | Rate | Term | Monthly Payment | Total Interest |
|---|---|---|---|---|---|
| Subsidized (Undergrad) | $20,000 | 6.52% | 10 yr | $227.30 | $7,275.94 |
| Subsidized (Undergrad) | $35,000 | 6.52% | 10 yr | $397.77 | $12,732.90 |
| Stafford / Unsubsidized (Undergrad) | $27,000 | 6.52% | 10 yr | $306.85 | $9,822.52 |
| Unsubsidized (Graduate) | $50,000 | 8.07% | 10 yr | $608.49 | $23,018.67 |
| PLUS Loan (Parent or Grad) | $40,000 | 9.07% | 10 yr | $508.22 | $20,986.36 |
Use these as reference points. To calculate your exact payment with your specific balance, enter your numbers directly into the calculator above.
Subsidized vs Unsubsidized Loan Calculator: Key Difference
Both loan types are federal Direct Loans available through FAFSA, and both carry the same 6.52% undergraduate rate in 2026. The critical difference is when interest starts accruing:
- Subsidized loans: The federal government pays interest while you are in school at least half-time, during the 6-month grace period, and during approved deferment. Your balance does not grow while you are enrolled.
- Unsubsidized loans: Interest accrues from the day the loan is disbursed — including while you are in school. If you do not pay the interest during school, it capitalizes (adds to your principal) when repayment begins, increasing your total debt.
The payment calculation is the same for both once repayment starts. To compare the true cost difference, use the calculator to model a subsidized loan at its disbursed balance, then compare an unsubsidized loan at the same amount plus capitalized interest.
Stafford Loan Calculator
Stafford Loans is the older name for what are now called Direct Subsidized and Direct Unsubsidized Loans. If your loan documents say "Stafford Loan," it is the same as a Direct Loan for repayment calculation purposes. Use our student loan calculator with your current balance and rate — the formula is identical regardless of whether your documents say Stafford or Direct.
The maximum undergraduate Stafford/Direct Loan limit is $27,000 total for dependent students ($31,000 for independent students). At a 6.52% rate and standard 10-year repayment, the monthly payment on $27,000 is $306.85 with $9,822.52 in total interest.
PLUS Loan Repayment Calculator
Parent PLUS Loans and Graduate PLUS Loans carry the highest federal rate — 9.07% for 2026–2027. Unlike subsidized and unsubsidized loans, PLUS Loans require a credit check. Repayment typically begins within 60 days of full disbursement for parent borrowers (though deferment is available while the student is enrolled).
To calculate your PLUS Loan payment, enter your balance and 9.07% into the calculator above. A $40,000 PLUS Loan at 9.07% over 10 years costs $508.22 per month and $20,986.36 in total interest.
FAFSA Loan Repayment Plans in 2026
After FAFSA-based federal loans enter repayment, you have several plan options. The plan you choose determines your monthly payment, not just the interest rate:
| Repayment Plan | Term | How Payment Is Set |
|---|---|---|
| Standard Repayment | 10 years | Fixed amount; lowest total interest |
| Extended Repayment | Up to 25 years | Fixed or graduated; lower monthly, more total interest |
| Graduated Repayment | 10 years | Low payments early, rising every 2 years |
| RAP (new 2026) | Up to 30 years | 1–10% of income; replaces SAVE plan |
| IBR | 20–25 years | 10–15% of discretionary income |
Federal Student Loan Annual Borrowing Limits
The amount you can borrow through FAFSA-based Direct Loans is capped by year in school and dependency status. These limits apply regardless of your cost of attendance:
| Year | Dependent Student | Independent Student |
|---|---|---|
| Year 1 (Freshman) | $5,500 (max $3,500 subsidized) | $9,500 (max $3,500 subsidized) |
| Year 2 (Sophomore) | $6,500 (max $4,500 subsidized) | $10,500 (max $4,500 subsidized) |
| Year 3–4 | $7,500/yr (max $5,500 subsidized) | $12,500/yr (max $5,500 subsidized) |
| Graduate | $20,500/yr (unsubsidized only) | $20,500/yr (unsubsidized only) |
| Lifetime Maximum | $31,000 ($23,000 sub limit) | $57,500 ($23,000 sub limit) |
Frequently Asked Questions
What is a FAFSA loan calculator used for?
A FAFSA loan calculator estimates your monthly repayment on federal student loans that were awarded through the FAFSA process — including Direct Subsidized Loans, Direct Unsubsidized Loans, Stafford Loans, and PLUS Loans. You enter your loan balance, interest rate, and repayment term to see your monthly payment and total interest cost.
What interest rate should I use in a FAFSA repayment calculator?
For loans disbursed July 1, 2026 to June 30, 2027: 6.52% for undergraduate Direct Loans, 8.07% for graduate Direct Unsubsidized Loans, and 9.07% for PLUS Loans. For prior-year loans, check your rate on studentaid.gov — each loan year has a different fixed rate.
How do I calculate my FAFSA loan payment if I have multiple loans?
Calculate each loan separately, then add up the monthly payments. Because each loan year may carry a different rate, a combined average approach can slightly misstate your actual payments. Run each loan balance at its specific rate in the calculator for the most accurate total.
Does FAFSA itself have a loan calculator?
FAFSA (the application at studentaid.gov) does not include a built-in loan payment estimator, though studentaid.gov does offer a separate Loan Simulator tool. Our calculator works with any federal or private student loan — simply enter your balance, rate, and term.
What is the difference between the Stafford Loan calculator and the federal student loan calculator?
There is no meaningful difference for repayment calculation purposes. Stafford Loans and Direct Loans use the same amortization formula. A Stafford Loan calculator and a federal student loan calculator both produce the same result for the same balance, rate, and term.
Calculate your exact FAFSA loan payment for any balance and term.
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