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Student Loan Payment Amount Estimator

Whether you are considering taking out a new student loan, or about to start paying off a current student loan, use this helpful tool to estimate what your monthly payment might be.

New Loans:
Simply enter the loan amount, anticipated interest rate, and length of the loan (how many years to repay).

Sallie Mae Loans Entering Principal and Interest Repayment:
Log in to and go to the Loan Details page to find all the information you'll need to calculate your estimated payment amount. Locate your Current Balance, Interest Rate, and Repayment Term and enter them in the Estimator. Please be sure to enter your Current Balance in the Loan Amount field and convert your Repayment Term from months to years.

Enter your total current balance.
Enter your interest rate.
Enter years to repay.
Enter your monthly payment.


Correct the fields highlighted above.

Please note the monthly payment amount is an estimate provided for informational purposes only.*


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* Sallie Mae does not guarantee the estimator accuracy or applicability to a person's individual circumstances. The estimated monthly payment assumes a fixed payment amount and fixed interest rate for the life of the loan and does not account for a variable interest rate. The estimate does not account for missed payments, the use of deferment or forbearance, or any required minimum monthly payment amount for a particular loan. For new loans, this estimate does not account for any payments made during the in-school and separation or grace periods, or any interest that accrues or capitalizes during that time. For Sallie Mae loans entering principal and interest repayment, this estimate does not factor in accruing interest or any payments made between now and when the loan enters principal and interest repayment.