School Loan Calculator 2026 — College, FAFSA & Federal Loan Estimator
Estimate your monthly payment for any college loan, FAFSA loan, federal Direct loan, Stafford loan, or private school loan. Enter your balance and rate — see your full repayment schedule instantly.
| Year | Payment | Principal | Interest | Balance |
|---|
Types of School Loans in 2026
Direct Subsidized
Need-based. Government pays interest while you're in school. Only for undergraduates.
Direct Unsubsidized
Available to undergrad and grad students. Interest accrues from disbursement immediately.
PLUS / Grad PLUS
For grad students and parents of undergrads. Higher limit, higher rate. No subsidy.
Stafford Loans
Legacy name for Direct Loans made before 2010. Same repayment rules apply today.
Private School Loans
From banks and online lenders. Rates based on credit score. No federal protections.
FAFSA Loans
Loans awarded through your FAFSA application are federal Direct Loans.
2026 Federal School Loan Rates
| Loan Type | Who Qualifies | 2026 Rate | Annual Limit |
|---|---|---|---|
| Direct Subsidized | Undergrad, need-based | 6.53% | $3,500–$5,500 |
| Direct Unsubsidized (Undergrad) | All undergrads | 6.53% | $2,000–$7,000 |
| Direct Unsubsidized (Grad) | Graduate students | 8.08% | $20,500 |
| Direct PLUS (Parent) | Parents of undergrads | 9.08% | Cost of attendance |
| Grad PLUS | Graduate students | 9.08% | Cost of attendance |
Real Monthly Payment Examples
| Loan Balance | Rate | Monthly Payment | Total Interest | Total Paid |
|---|---|---|---|---|
| $15,000 | 6.53% | $170 | $5,396 | $20,396 |
| $27,000 (avg undergrad) | 6.53% | $306 | $9,712 | $36,712 |
| $35,000 | 6.53% | $397 | $12,590 | $47,590 |
| $57,000 (avg grad) | 8.08% | $694 | $26,295 | $83,295 |
| $100,000 | 9.08% | $1,270 | $52,400 | $152,400 |
All examples use standard 10-year repayment. Use the calculator above for your exact numbers.
Unsubsidized loan tip: If you did not pay interest during school, use your current capitalized balance from your loan servicer — not the original amount borrowed. Capitalized interest can add thousands to your starting repayment balance.
Frequently Asked Questions
What is the difference between a school loan and a student loan?
The terms are interchangeable. Both refer to money borrowed to pay for education — tuition, housing, books, and other expenses — whether from federal programs like Direct Loans or from private lenders.
Can I use this as a FAFSA loan calculator?
Yes. Loans distributed through FAFSA are federal Direct Loans. Select the appropriate loan type above (Subsidized or Unsubsidized at 6.53% for undergrad in 2026) and enter the amount from your financial aid award letter. For multiple FAFSA loans, use our dedicated FAFSA loan calculator which handles multiple loans at once.
How much is the monthly payment on a $30,000 school loan?
On a $30,000 federal undergraduate Direct Loan at 6.53% on the standard 10-year plan, the monthly payment is approximately $340 and total interest paid is about $10,800. On a 25-year extended plan, the payment drops to about $217 but total interest rises to $35,200. Enter your exact balance into the calculator above to see both.
When do school loans go into repayment?
Federal school loans enter repayment after a 6-month grace period following graduation, leaving school, or dropping below half-time enrollment. Use this calculator now to prepare for that payment before it arrives.
Should I choose federal or private school loans?
Always exhaust federal loan options first. Federal loans offer fixed rates, income-driven repayment, PSLF eligibility, and federal forbearance protections. Private loans lack all of these. Only consider private loans after reaching your federal borrowing limits.
Compare repayment plans and see how forgiveness programs could apply to your school loans.
Read the Forgiveness Guide →Related: Student Loan Calculator · FAFSA Loan Calculator · Forgiveness & Repayment Guide · 2026 Repayment Changes · Loan Payoff Calculator · What Is Loan Amortization? · Compare Loan Offers