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Student Loan Calculator
Step toward your future with a private student loan
Get a quick payment estimate for your private student loan and choose the best lender to fit your needs
Student Loan Calculator
Get a quick payment estimate for your
private student loan and choose the best lender
to fit your needs
Student Loan Calculator
Get a quick payment estimate for your private student loan and choose the best lender to fit your needs
Last Updated December 2023
Type in or use the value slide bar to select your desired amounts
Please fill out Loan amount Loan amount should be between 1,000 to 200,000
Please fill out Annual interest rate Loan amount should be between 1% - 18%
Please fill out Term (Years) Term (Years) should be between 1 to 30

Monthly payment

Interest paid

Get your rate from our top-ranking lenders here
Our Most Popular
  • 5.29% - 16.99% Variable APR1
  • 4.42% - 16.99% Fixed APR1
  • Quick & easy: apply in less than 3 minutes
  • Borrow up to 100% of cost of attendance
  • Repay in 5, 8, 10, or 15 years
  • 4.50% - 15.49% Fixed APR
  • 6.12% - 16.45% Variable APR
  • Lowest rates include the auto debit discount
  • Covers online and on-campus learning
  • 4 months of free Chegg Study support
  • 5.39% - 16.20% Variable APR
  • 4.43% - 15.90% Fixed APR
  • Flexible repayment options
  • 9-month grace period
  • Option to skip a payment once per year
  • 4.98% - 16.99% APR Variable APR (with Autopay)*
  • 4.42% - 16.99% APR Fixed APR (with Autopay)*
  • Compares up to 8 lenders at once
  • 100% free to check prequalified rates
  • No hard credit inquiry when comparing rates
  • 5.49% - 13.97% Variable APR*
  • 4.44% - 14.7% Fixed APR*
  • Get 0.25% discount with autopay
  • No extra fees added to your loan
  • 5.35% - 7.95% Fixed APR
  • Repay in 7, 10, or 15 years
  • Instant application decision
  • Covers up to 100% of cost of attendance
  • Fully remote process - apply in minutes
  • 5.94% - 15.83% Variable APR
  • 4.48% - 15.51% Fixed APR
  • Repay in 5, 10 or 15 years
  • Up to 1% Cash Back Graduation Reward
  • Earn up to $525 for referring a friend
  • 5.29% - 16.99% Variable APR1
  • 4.42% - 16.99% Fixed APR1
  • $100 credit for opening Candidly account
  • Access to Candidly for loan management
  • Cashback rewards to pay down student loan
Our Top Choice
Our Most Popular
  • 5.29% - 16.99% Variable APR1
  • 4.42% - 16.99% Fixed APR1
  • Quick & easy: apply in less than 3 minutes
  • Borrow up to 100% of cost of attendance
  • Repay in 5, 8, 10, or 15 years
Frequently Asked Questions About Our Calculator
What is our Student Loan Calculator for?
Our calculator allows you to get an accurate estimate of your private student loans.
How does our Student Loan Calculator work?
Our calculator will give you an estimate of your private student loan based on the details you enter based on interest rates, loan amount, and time you’ll need for repayment.
Types of Interest Rates (APR)
There are two types of interest rates: fixed and variable.
Fixed rate: Lock in your rate through the entirety of your borrowing period.
Variable rate: Interest rate will change and adjust throughout your borrowing period.
All of our lenders offer both, make sure to pick the loan type that works best for you.
How much will you have to repay?
The total amount you will have to repay is based on the amount you borrowed plus the amount that was accrued during your time at school.
Why choose to help you choose your student loan lender?
We understand that looking for a loan for your studies can be overwhelming, that’s why we work with different lenders that offer various types of private student loan plans that will suit your needs. Find a complete analysis of the best rates and loan plans to cover your study fees, books, and living expenses.

Private Student Loans vs. Federal Student Loans

When it comes to borrowing money for college, grad school, or career training, there are two options: private student loans or federal student loans.

Federal student loans are loans funded by the federal government. These are typically the student loans with the lowest interest rates. They also offer assistance and grace periods if you have trouble paying your student loans. However, federal college loans for students have high origination fees, strict eligibility requirements and usually only cover part of the cost of admission.

Comparing the Best Student Loans

Comparing private student loans is a bit like comparing colleges in that there are so many different options out there. Obviously, finding the best student loans rates should be a priority. However, it can sometimes be worth paying a higher rate in exchange for other benefits. Here’s the full breakdown of things to look for before applying for student loans.

Loan type. Some student loan companies only offer undergraduate loans, while others offer the full range of loans. Possible loan options include: undergrad student loans, graduate student loans (e.g. law school, medical school, MBA), parent loans, career training loans, and K-12 loans.

APR. Most private student lenders offer a choice between fixed student loan interest rates and variable student loans rates. Based on our study of the best student loans for college, variable student loan interest rates range from 1.04% to 12.40% and fixed student loan interest rates run from 3.49% - 12.99%. The average interest rate for a student loan is around 5-6% for undergraduate loans, 6-7% for graduate student loans, and 7-8% for parent loans. The lower loan interest rates are reserved for the borrowers with the best credit scores.

Fees. One of the main advantages of private student loans is that there are usually no additional fees to worry about. That means no origination fees, no application fees, and no prepayment fees. If a lender boasts of low interest loans for students, always double check to make sure there aren’t any additional fees.

Discounts. Most private student loan interest rates come with a 0.25% rate discount for using autopay. Other potential offers from private student loans organizations include cash-back upon graduation, refer-a-friend bonuses, and free learning tools from third-party partners.

Loan amount. The best college loans for students cover the full cost of admission. This includes tuition, room and board, fees, books and supplies, transportation, and a computer for school.

Repayment terms. Depending which lender you choose, you may be given up to 15-20 years to finish paying your student loans. Many private lenders require student loan payments while you are still in school, but some allow you to begin paying your student loans after graduation.

Grace and deferment periods. With some private student loan services, you may have the option of taking a grade period of 6-12 months after graduation before starting to pay off your student loans. Some student loan companies also offer deferment options for borrowers who find themselves struggling to make student loan payments.

Minimum credit score. Qualifying requirements for personal student loans are highly variable. Most private lenders require a credit score of at least 680, although some have been known to accept borrowers with scores as low as 600. As mentioned already, the best interest on student loans is reserved for borrowers with strong credit.

Co-signer option. Many students don’t have the credit score required to qualify for a private student loan on their own. With this in mind, many student loan companies allow for a co-signer (such as a parent, relative or someone else you trust) to be added to student loan applications. Having a co-signer with excellent credit is key to getting the lowest student loan rates.

Our Top 3 Student Loans Services

  • Low variable rates
  • Flexible repayment options
  • Takes only 3 minutes to apply
  • No co-signer release until half the term has elapsed
  • No phone applications
College Ave is a standout performer on all the most important aspects of student loans, namely: low interest rates, flexible repayment options, and co-signer option. The absence of a transparent minimum credit score and the difficulty of getting a co-signer release add a bit of risk. However, if you or your co-signer are in a strong position in terms of credit score, then College Ave is one of the best student loan options out there.
  • Flexible eligibility requirements
  • 95% approval rate with co-signer
  • 4 months of free Chegg study support
  • No principal + repayment option during school
  • Graduate student loan rates not advertised
Sallie Mae is one of the oldest and most-respected private student loans companies in America. It offers competitive interest rates, flexible repayment options, and loans to suit all types of degrees and courses. Its flexible eligibility requirements make it a great choice for borrowers not covered by other private student loan providers, such as people studying less than half-time or studying abroad.
  • Flexible repayment options
  • 9-month grace period
  • Option to skip a payment once per year
  • Not available in Nevada
  • No co-signer release option
Earnest stands out on several different points. Its interest rates are among the lowest in the private student loans market. Its grace period is the most generous we’ve seen. And its fintech-powered platform means you get a quick decision. The eligibility requirements are fairly restrictive, so you’ll need to bring along a creditworthy borrower to get approved and qualify for a good APR.

Guide to Student Loan Applications

All the top lenders maintain student loans websites where you can begin your application. Useful tip: Only apply to a handful of lenders with the best student loans rates in order to save yourself the trouble of uploading dozens of student loan applications.

It typically takes around 15 minutes to apply for a student loan. Here’s what you and your co-signer will need to provide:

  • Your addresses
  • Your social security numbers (so the lender can run a credit check)
  • Your employment information
  • Your financial information, including your bank account and mortgage/rent payments
  • Requested loan amount
  • Information about the school of attendance, including: degree, enrollment study, and academic period you need to finance
  • Information about any financial aid, scholarships, or federal loans you expect to receive

After submitting your application, you’ll have a chance to review the interest rate and repayment term options. Then you and your co-signer will have the opportunity to review and e-sign the agreement. Finally, your lender will verify your academic enrollment and loan eligibility with your school. Assuming everything goes smoothly, you’ll be funded for school.

Finding Your Student Loan

As long as you or your co-signer have decent credit, getting student loans isn’t all that difficult. After all, there are literally dozens of companies offering student loans in the USA. However, unless you want to try your luck applying for student loans from literally every lender, then it pays to do a bit of research first. On this website, you’ll find lender reviews and information to help you find student loans with low interest rates and favorable terms. Compare the student loans organizations on key factors like APR, loan type, and repayment term to find which makes most sense for you.

Make sure you exhaust your options of federal student loans before you turn to private loans. Once you chose private loans, compare offers from multiple lenders to find the lowest interest rate.

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