Student Loan Repayment Calculator

Loan Amount ($) Interest Rate (%) Loan Term (years) Monthly Payment ($) Total Repayment ($)

This Student Loan Repayment Calculator helps you estimate your monthly payments and total repayment amount based on the loan amount, interest rate, and term length.

Example Calculation

Loan Amount: $25,000, Interest Rate: 5%, Loan Term: 10 years → Monthly Payment: $265.06, Total Repayment: $31,807.23.

How it Works

The calculator uses the standard formula for fixed-rate loans to compute your monthly payment. It assumes that the loan will be paid off in equal monthly installments over the term.

Important Notes

The interest rate and loan term directly affect your monthly payment and total repayment amount. A longer loan term reduces your monthly payment but increases the total repayment cost.

function calculateRepayment(){ const loanAmount = parseFloat(document.getElementById(“loanAmount”).value); const interestRate = parseFloat(document.getElementById(“interestRate”).value) / 100 / 12; const loanTerm = parseFloat(document.getElementById(“loanTerm”).value) * 12; if (isNaN(loanAmount) || isNaN(interestRate) || isNaN(loanTerm) || loanAmount <= 0 || interestRate <= 0 || loanTerm el.value = “”); }