Student Loan Calculator Excel

Student Loan Calculator Excel with amortization schedule to calculate monthly payments for your student loan. Student loan calculator with interest paid calculates total payment, interest, payoff date, and amortization schedule. Enter the loan amount, term and interest rate, and the student loan calculator will calculate the monthly payments for your student finance. You can export the student loan amortization schedule to an excel sheet that you can review later.

Payment Date	Payment #	Interest Paid	Principal Paid	Total Payment	Remaining Balance
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Loan & Payment Summary
Loan Amount:	$20,000.00
Monthly Payment:	$358.04
Total # Of Payments:	60
Start Date:	Jun, 2023
Payoff Date:	May, 2028
Total Interest Paid:	$1,482.53
Total Payment:	$21,482.53

Student Loan Amortization Schedule
Jun, 2023	1	$47.50	$310.54	$358.04	$19,689.46
Jul, 2023	2	$46.76	$311.28	$358.04	$19,378.18
Aug, 2023	3	$46.02	$312.02	$358.04	$19,066.16
Sep, 2023	4	$45.28	$312.76	$358.04	$18,753.40
Oct, 2023	5	$44.54	$313.50	$358.04	$18,439.90
Nov, 2023	6	$43.79	$314.25	$358.04	$18,125.65
Dec, 2023	7	$43.05	$314.99	$358.04	$17,810.65
Jan, 2024	8	$42.30	$315.74	$358.04	$17,494.91
Feb, 2024	9	$41.55	$316.49	$358.04	$17,178.42
Mar, 2024	10	$40.80	$317.24	$358.04	$16,861.18
Apr, 2024	11	$40.05	$318.00	$358.04	$16,543.18
May, 2024	12	$39.29	$318.75	$358.04	$16,224.43
Jun, 2024	13	$38.53	$319.51	$358.04	$15,904.92
Jul, 2024	14	$37.77	$320.27	$358.04	$15,584.65
Aug, 2024	15	$37.01	$321.03	$358.04	$15,263.62
Sep, 2024	16	$36.25	$321.79	$358.04	$14,941.83
Oct, 2024	17	$35.49	$322.56	$358.04	$14,619.28
Nov, 2024	18	$34.72	$323.32	$358.04	$14,295.95
Dec, 2024	19	$33.95	$324.09	$358.04	$13,971.87
Jan, 2025	20	$33.18	$324.86	$358.04	$13,647.01
Feb, 2025	21	$32.41	$325.63	$358.04	$13,321.38
Mar, 2025	22	$31.64	$326.40	$358.04	$12,994.97
Apr, 2025	23	$30.86	$327.18	$358.04	$12,667.79
May, 2025	24	$30.09	$327.96	$358.04	$12,339.84
Jun, 2025	25	$29.31	$328.74	$358.04	$12,011.10
Jul, 2025	26	$28.53	$329.52	$358.04	$11,681.59
Aug, 2025	27	$27.74	$330.30	$358.04	$11,351.29
Sep, 2025	28	$26.96	$331.08	$358.04	$11,020.20
Oct, 2025	29	$26.17	$331.87	$358.04	$10,688.33
Nov, 2025	30	$25.38	$332.66	$358.04	$10,355.68
Dec, 2025	31	$24.59	$333.45	$358.04	$10,022.23
Jan, 2026	32	$23.80	$334.24	$358.04	$9,687.99
Feb, 2026	33	$23.01	$335.03	$358.04	$9,352.96
Mar, 2026	34	$22.21	$335.83	$358.04	$9,017.13
Apr, 2026	35	$21.42	$336.63	$358.04	$8,680.50
May, 2026	36	$20.62	$337.43	$358.04	$8,343.08
Jun, 2026	37	$19.81	$338.23	$358.04	$8,004.85
Jul, 2026	38	$19.01	$339.03	$358.04	$7,665.82
Aug, 2026	39	$18.21	$339.84	$358.04	$7,325.98
Sep, 2026	40	$17.40	$340.64	$358.04	$6,985.34
Oct, 2026	41	$16.59	$341.45	$358.04	$6,643.89
Nov, 2026	42	$15.78	$342.26	$358.04	$6,301.62
Dec, 2026	43	$14.97	$343.08	$358.04	$5,958.55
Jan, 2027	44	$14.15	$343.89	$358.04	$5,614.66
Feb, 2027	45	$13.33	$344.71	$358.04	$5,269.95
Mar, 2027	46	$12.52	$345.53	$358.04	$4,924.42
Apr, 2027	47	$11.70	$346.35	$358.04	$4,578.08
May, 2027	48	$10.87	$347.17	$358.04	$4,230.91
Jun, 2027	49	$10.05	$347.99	$358.04	$3,882.91
Jul, 2027	50	$9.22	$348.82	$358.04	$3,534.09
Aug, 2027	51	$8.39	$349.65	$358.04	$3,184.45
Sep, 2027	52	$7.56	$350.48	$358.04	$2,833.97
Oct, 2027	53	$6.73	$351.31	$358.04	$2,482.65
Nov, 2027	54	$5.90	$352.15	$358.04	$2,130.51
Dec, 2027	55	$5.06	$352.98	$358.04	$1,777.53
Jan, 2028	56	$4.22	$353.82	$358.04	$1,423.71
Feb, 2028	57	$3.38	$354.66	$358.04	$1,069.04
Mar, 2028	58	$2.54	$355.50	$358.04	$713.54
Apr, 2028	59	$1.69	$356.35	$358.04	$357.19
May, 2028	60	$0.85	$357.19	$358.04	$0.00

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Student Loan Repayment Calculator

The student loan repayment calculator shows how much interest you will be paying at the end of your loan. If you want to pay off your student loan faster and save on interest payment, you can use the student loan prepayment calculator.

What are student loans?

Student loans are money that students borrow to help them pay for college. Students can use the loan for any type of college expenses, such as tuition, books, food, and rent. In the United States, over 70% of students who go to college use student loans to pay for school-related expenses.

How do student loans work?

To take out a student loan means the borrower needs to pay back the loan plus interest in monthly payments. A student loan may have a fixed interest or a variable rate. On a loan with a fixed interest rate, the borrower makes the same monthly payment throughout the life of the loan. The monthly payments for a student loan with a variable interest change over the course of the loan. There are two types of student loans, federal student loans, and private student loans. Federal student loans issued by the government are fixed interest rates loans and comes with lower interest rate. Private student loans are issued by banks, credit unions, or private lenders. They could be fixed interest or variable interest. Since federal student loans have a lower interest rate, it is recommended that students max out their loans before considering loans from private lenders.

How much do student loans cost per month?

How much student loans cost per month depends on three variables, the size of the student loan, the interest rate, and the terms to pay back. For example, a $30,000 student loan with a 5% interest rate and a 10-year term would cost the borrower $318.20 a month. The student would pay about $8,183.59 in total interest after he pays off the loan after 10 years. To save money, a borrower may consider paying off his student loan earlier with extra payments. Visit the student loan early payoff calculator to learn how much you can save by increasing your monthly payments and cutting down on interest payments. Talk to your lender before making extra payments and make sure the lender doesn't charge any extra or has a penalty for paying off early.

How does the student loan calculator work?

To help you calculate the monthly payments for your student loan, use our student loan calculator. The three required inputs for the calculator are the loan amount, loan terms, and interest rate. Loan Amount - the size of the student loan Loan Terms - how many years will the borrower pay off his student loan Interest Rate - the cost of borrowing money The calculator generates a student loan amortization schedule that shows the borrower how much is for interest payment and how much is for principal payment each month. The student amortization schedule also shows the remaining balance for the loan.