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Student Loan Term Comparison Calculator​

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Check out our Student Loan Term Comparison Calculator, it's one of our most used calculators. This calculator will show you your payment structure through different lengths of years. Not quite sure if you should make your student loan term 10, 15 or 20 years? Want to see how your interest rate effects your payments through the years? This calculator will show you how the duration of your loan and interest rate really makes a difference. Enter in some quick numbers and make a wise decision.

Loan information
Loan balance
5 year loan rate
10 year loan rate
15 year loan rate
20 year loan rate
25 year loan rate
Which loan term gives you the most flexibility?

See how different loan durations change your student loan payment.

Maximize your savings with a wise loan term.

What is the Student Loan Term Comparison Calculator?

DollarGeek’s Student Loan Term Comparison Calculator will let you calculate and compare multiple student loan options. Easily compare terms and interest rates to help you discover the best way to keep your wallet happy. When you compare your student loans, their terms and interest rates, you get to see the big picture and where you’ll find the biggest savings.

Does the Student Loan Term Calculator tell me which loan term is the best?

Everyone has a different financial situation, so there is no specific loan term that, “fits all”. 

When you’re choosing the best student loan term length, it’s important to understand how the durations work for a short loan term, and a long loan term. If you choose to refinance your student loan with a private lender, you can have a loan term as short as 5 years, and as long as 25 years. It’s really up to you and how much you can afford and want to pay off every month.

If you choose a short student loan term length, it means you’ll pay more each month for your student loans. But, you would repay student loan debt faster because you would save interest costs.

On the other hand, a longer student loan term length means you would pay less each month for your student loans. But, you would repay student loan debt slower because you would pay more in interest costs.

Use our Student Loan Term Comparison Calculator and find the best loan term according to your specific needs.

What is the usual federal student loan term length?

The “Standard Repayment Plan” for federal student loans is 10 years.

Do private student loan lenders offer different loan term lengths?

Private student loan lenders offer you flexibility. The typical lender can offer you a loan term duration anywhere from 5 to 20 years. In some cases, you can customize your loan term to the exact month.

What does DollarGeek think I should remember?

When it comes to the loan term on your student loans, always remember that a shorter duration might look appealing because the lower monthly payment, but will end up costing you more in the long run (interest adds up). If you take on a shorter loan term you’ll typically pay a higher monthly payment, but in the overall picture, you’ll be saving money because you’re tackling out your debt faster.