The classic trade-off
Longer terms cut the monthly bill and raise lifetime interest if you pay only the minimum. Shorter terms do the opposite. Federal “standard” and “extended” labels have eligibility rules — this tool is arithmetic on your inputs, not an enrollment form. Read standard vs extended repayment.
Privacy and honesty
Calculations run locally in your browser on GradClear. We do not need an account and we do not receive the numbers you type. Do not enter FSA IDs, Social Security numbers or servicer passwords. Advertisers help keep the tools free; ads are labelled. Affiliate links, when present, use rel="sponsored" and are described in the affiliate disclosure.
GradClear provides educational arithmetic only. Results are estimates. This site is not studentaid.gov, not a loan servicer and not a lender. Confirm figures with primary sources and licensed professionals.
Using this tool responsibly
Enter balances and rates from your own servicer statements or lender quotes. Change one input at a time when comparing scenarios. Revisit after rate changes, refinancing offers or plan switches.
Write down the scenario you chose and the assumption that mattered most. Bring that short note to a conversation with your servicer or a licensed adviser. For official Income-Driven Repayment estimates and forgiveness rules, use tools on studentaid.gov.
What this calculator cannot do
It cannot enroll you in a repayment plan, certify IDR, decide Public Service Loan Forgiveness eligibility, consolidate loans or refinance with a lender. SAVE plan enrollment is closed; repayment options and RAP rules for newer loans continue to change — always re-check Federal Student Aid publications.
Federal context you should re-check
As of 2026, Federal Student Aid materials describe major repayment transitions: SAVE enrollment closed, ongoing IDR operational changes, and RAP concepts for loans disbursed on or after July 1, 2026. None of those program rules are encoded as “official answers” inside GradClear. If a result here disagrees with your servicer portal or a studentaid.gov estimator, trust the government systems for enrollment and billing.
FAFSA 2027–28 is available on the official site. Filing aid applications, signing Master Promissory Notes and choosing repayment plans all happen off GradClear.
Single-balance simplification
Most households hold more than one loan tranche with different rates and disbursement dates. Model each balance separately or sum carefully so you do not hide a high-APR slice inside an average. Capitalized interest after deferment or forbearance can step principal up — update the balance field when that happens.
Private loans follow contract terms that may include variable rates, cosigner rules, late fees and different prepayment handling. Always read the note you signed.
Affiliate and advertising note
Comparison-marketplace links (Credible, LendingTree, Bankrate) may appear with rel="sponsored" once tracking tags are configured. Until then they are untagged homepage links. They are not endorsements of any particular APR, and GradClear does not insert fake offers into calculator outputs.