GlenCalc

Student loan calculator

Unsubsidized student loans charge interest while you study, and it is added to the balance when repayment starts. Enter the loan and how long until you start paying to see the real starting balance and payment.

The standard federal plan is 10 years.

Your answer

Monthly payment$396.00
Total interest$17,519.83
Interest added before repayment$4,875.00
Balance when repayment starts$34,875.00
Paid off in10 years
Yearly schedule
YearInterestPrincipalBalance
1$2,191.49$2,560.50$32,314.50
2$2,020.01$2,731.98$29,582.53
3$1,837.04$2,914.94$26,667.58
4$1,641.82$3,110.16$23,557.42
5$1,433.53$3,318.46$20,238.96
6$1,211.28$3,540.70$16,698.27
7$974.16$3,777.83$12,920.44
8$721.15$4,030.83$8,889.60
9$451.20$4,300.79$4,588.82
10$163.16$4,588.82$0.00

Worked out in your browser. Nothing you type is sent to a server.

How we worked it out

Updated as you change the numbers.

  1. Interest while waiting = $30,000.00 × 0.5417% × 30 months = $4,875.00, added to the balance.
  2. Payment on $34,875.00 over 120 months = $396.00.

Method and assumptions

Interest on unsubsidized federal loans builds up as simple interest during school and the grace period, and is added to the principal (capitalized) when repayment begins. After that, the loan is repaid like any fixed-rate loan. Income-driven repayment plans work differently and are not covered here.

Questions

How much interest builds up on an unsubsidized loan in school?

$30,000 at 6.5% for 2 years plus a 6-month grace period adds $4,875 before you make a payment.

Sources

Method and figures checked on . Every worked answer on this page is covered by an automated test. Found a mistake? Tell us.

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