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A student loan calculator estimates monthly payments, total repayment, and total interest under different repayment plans for UK (Plan 1, 2, 4, Postgraduate) or US (Standard, IBR, PAYE) student loans.
الصيغة
Monthly payment = P × r(1+r)ⁿ/[(1+r)ⁿ−1] where r = annual rate/12, n = months
- P
- Principal loan amount ($)
- r
- Monthly interest rate (annual%/12)
- n
- Number of payments (months)
- M
- Monthly payment ($)
دليل خطوة بخطوة
- 1UK Plan 2: repay 9% of income above £27,295/year; written off after 30 years
- 2UK interest: RPI + 0–3% depending on income
- 3US Standard: fixed monthly payment over 10 years
- 4US IBR: 10% of discretionary income; forgiven after 20–25 years
أمثلة محلولة
الإدخال
UK Plan 2: £50k debt, £35k salary
النتيجة
Annual repayment = 9% × (£35k−£27,295) = £693/yr = £57.75/month
أسئلة شائعة
What's the difference between federal and private student loans?
Federal: fixed rates, income-based repayment, forgiveness programs. Private: variable rates, credit-based, more expensive.
What's income-driven repayment?
Payment capped at discretionary income %. Plans: PAYE (10% income), IBR (10-15%), SAVE (5-10% discretionary).
Can student loan interest be deducted?
Yes, up to $2,500/year federal deduction. PSLF: 10 years forgiveness for public service jobs (federal only).
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