Resources > Student Loan Calculator
Student Loan Calculator
Borrowing for college is one of the biggest financial decisions you’ll make, and the smartest borrowers are the ones who run the numbers before they sign, not after. The Student Loan Calculator lets you do exactly that.
See how loan amount, interest rate, repayment term, and in-school payment choices shape both your monthly payment and the total you’ll pay over the life of the loan. Test different scenarios, understand your options, and walk into the borrowing process knowing what to expect.
Calculator results are estimates for educational purposes only. Actual loan terms, including interest rate, monthly payment, and repayment schedule, may vary based on credit evaluation and loan approval. This calculator assumes fixed interest rates and simple interest during in-school periods. Abe private student loans are subject to credit approval. Please review loan terms carefully before borrowing.
Ready to take the next step?
Prequalify in minutes. No credit score impact.2 Zero fees. See your actual rate today.
Tip: applying with a creditworthy cosigner may improve your approval odds and lower your interest rate.
How to Use This Student Loan Calculator
Enter your loan details
Start with the amount you need to borrow and the interest rate. If you're not sure about rates, start by comparing common numbers like 4%, 8%, and 12% to better understand the potential range of costs.
Choose your repayment term
Select how long you want to take to repay: 5, 7, 10, 15, or 20 years. Shorter terms mean higher monthly payments but less interest paid overall.
Select an in-school payment option
This is where things get interesting. You can defer all payments, pay just the interest, pay a partial amount, or start full payments while still in school.
Compare scenarios
Not sure which option is right? Save different configurations and compare them side-by-side. Export as a PDF to review later or share with family.
What the Calculator Shows You
Monthly Payment While in School
What you’ll pay each month before graduation, based on the payment option you select. For deferred loans, this is $0.
Monthly Payment After Graduation
Your payment once repayment begins. This is the number that will show up on your budget for years, so make sure it’s manageable.
Total Interest
The true cost of borrowing. This is the difference between what you borrow and what you’ll actually pay back. It’s often larger than people expect.
Total Cost
The full amount you’ll pay over the life of the loan, including principal and interest. This is the number that matters most.
How In-School Payments Impact Total Loan Cost
Most calculators don’t show this, but what you pay while in school has a significant impact on your total loan cost.
Fully Deferred
No payments during school. Interest accrues and gets added to your principal at the end of your grace period (capitalization). This is the most expensive option long-term, but it preserves cash while you’re a student.
Interest-Only
Pay just the monthly interest while in school. Your balance stays the same, and nothing capitalizes. A good middle ground if you can afford $50-$200/month.
Partial Interest
Minimum monthly payments of $25 or $50 per month reduces the amount that capitalizes, lowering your total cost.
Immediate Repayment
Start full payments right away. Your balance goes down while you’re in school, and you’ll have a shorter repayment period after graduation. Best if you have income from work or family support.
Understanding Your Results
If your monthly payment feels too high:
Try extending the repayment term. This lowers the monthly payment but increases total interest. Or consider borrowing less if possible.
If your total interest seems alarming:
It often is. A $30,000 loan at 7.5% over 10 years costs about $12,700 in interest. Over 15 years, that jumps to $19,600. This is why shorter terms and in-school payments matter.
If you're comparing Abe to other loans:
Every loan is different, and may include different terms, features and benefits. Make sure you understand what’s included in each estimate so you’re comparing similar scenarios.
Frequently Asked Questions
What interest rate should I use?
Private student loan rates typically range from 4% – 17% depending on your creditworthiness. Trying 4%, 8% and 12% give you a range of estimates to start.
Does this calculator include fees?
What happens if I can't make student loan payments after graduation?
Abe offers deferment and forbearance options for financial hardship,11 job loss,11 natural disasters,22 and medical situations.12 Abe also offers reduced payment programs and term extensions.21 But these are last resorts, not features to plan around.
Should I choose fixed or variable rate?
This calculator models fixed rates. Fixed rates stay the same for the life of your loan, making budgeting predictable.5 Variable rates start lower but can increase over time based on market conditions. For longer repayment terms, fixed is generally safer.
How accurate is this calculator?
The math is accurate for the inputs you provide. Your actual loan terms, including rate and monthly payment, will be confirmed when you apply. Calculations are estimates based on the assumptions shown.
Take the next step and find your personalized rate.
Prequalify in minutes. No credit score impact.2 Zero fees. See your actual rate today.
Tip: applying with a creditworthy cosigner may improve your approval odds and lower your interest rate.