Standard vs income-based repayment.. Student Loan Calculator is a free online tool from the ToolsRift Finance & Health Calculators collection. It runs entirely in your browser — nothing to install, no signup, and your data never leaves your device.
Enter your loan balance, interest rate and repayment term. The calculator compares standard and income-based plans for payment size and total interest.
Standard repayment uses the fixed EMI formula so equal monthly payments clear the balance over the term, with interest charged on the reducing balance each month.
Income-based repayment caps monthly payments at a share of your income, which can lower payments but often extends the term and increases total interest paid.
Prepaying reduces principal and saves interest, but weigh it against tax benefits on education loan interest and any higher-return uses of the money.