Calculators & Tools

Borrowers with student loan debt are encouraged to explore the various programs designed to help borrowers manage their student loans. There are a number of options available to borrowers, from temporarily stopping payments to long-term solutions that lower student loan debt or offer loan forgiveness. If you are having trouble managing your student loans, be sure to check out these financial resources.

  • Direct Consolidation Loan Calculator: Calculate your monthly payments on different payment plans through federal consolidation.
  • Repayment Estimator: Use the Department of Education’s Repayment Estimator to estimate your different payment options on various federal repayment plans.
  • Can You Afford Your Student Loans?: Before you borrow, use’s calculator to estimate your future student loan payment amount, and determine if your prospective salary will be enough to cover your loan payments.
  • How Much Will You Pay? Use this tool from CNNMoney to find out how long it will take you to repay your debt.
  • Loan Forgiveness: This IBR calculator from can help you determine how much forgiveness you could receive on your student loans.
  • Accrued Interest Calculator: Use this calculator from Sallie Mae to calculate the cost of postponing payments with a deferment or forbearance.

Statistics & Reports

Today, millions of Americans are dealing with growing amounts of student loan debt, with more people taking out student loans each year. Explore the websites below to review interesting statistics surrounding student loan borrowing.

Student Loan Resources:

Federal Student Aid
Learn more about financial aid and the various student loan programs from Federal Student Aid.

The College Board
Learn about different colleges, the application process, and student aid options from The College Board.

The Consumer Finance Protection Bureau can help borrowers with issues concerning student loan disputes.

National Consumer Law Center
The NCLC provides access to student loan resources and education, on various federal and private student loan topics.

Financial Education:

America Saves
America Saves provides individuals with recommendations and tools to help set goals and start saving for the future.
View your credit report for free once each year from the three major credit bureaus.

EdFund provides education to assist help students looking for advice in making better financial decisions.

Federal Reserve Education
This website, provided by the Federal Reserve, offers education about important financial topics for the general public, as well as resources geared towards teachers.

Office of Financial Education
Provided by the U.S. Treasury Department, this collection of online resources shares information from the SEC, FDIC, US Mint, various Federal Reserve banks and more.
Consumers can visit for information about a broad range of government topics and federal services.
A nonprofit organization, The Women’s Institute for Financial Education provides education to women on take control of their finances.

Recent News

More than 90% of student debt today is in the form of federal loans. If you graduated from college recently and have a federal loan, you may have the option to temporarily postpone your payments, extend them, or lower them. The challenge is figuring out which of the eight major federal repayment plans is best for your situation.
The Federal Reserve’s decision to raise interest rates for the first time since 2006 likely won’t affect most student loan borrowers—not this year, at least.
Some of you may be familiar with the Pay As You Earn (PAYE) Repayment Plan, which caps payments at 10% of a borrower’s monthly income and forgives any remaining balance on your student loans after 20 years of qualifying repayment. But this plan is only for recent borrowers. REPAYE solves this problem. Like the name implies, REPAYE has some similarities to PAYE. First and foremost, REPAYE, like PAYE, sets payments at no more than 10% of income. However, REPAYE—unlike PAYE— is available to Direct Loan borrowers regardless of when they took out their loans.
Federal lawmakers are looking to repeal a provision in the recently passed U.S. budget that allows the government to robocall and text cellphones to collect debts, including student loans.
Student loans are coming due for borrowers who graduated or left school in May. But choosing the best repayment plan while avoiding misinformation and student loan scams isn't always easy.
As part of the Obama Administration's commitment to helping students and borrowers, the Department of Education is announcing the publication of two regulatory packages that will protect students in the rapidly-expanding college debit and prepaid card marketplace and add a new income-based repayment plan so more borrowers can limit the amount of their payments to 10 percent of their income.
Repayment on the most common student loans (federal Stafford loans) starts six months after the borrower graduates. So, if like most new college grads, you donned a cap and gown in May of this year, it’s about time to pay up. Paying off student loan debt can be intimidating, but there are many things you can do to reduce the stress of the situation.
The changes, which will be implemented over the course of 2016, will significantly affect the process of filing for federal financial aid and, for some families, the amount of aid they'll receive. For families of current and prospective college students, here are the changes to be aware of – and how to manage them.
In a report that came out this September, the CFPB examined student loan servicing practices and came up with a set of guidelines for how to fix problems in this business. The CFPB and Department of Education have also issued “joint principles” on how to clean up loan servicing, although they fall short of being stringent regulations or actual laws. In the interim, here is what you need to know when dealing with your own student loan servicer.
The Free Application for Federal Student Aid (FAFSA) helps determine a student’s eligibility for aid by asking for information on the income and assets of the student and his or her parents for the previous year. Since the FAFSA can be completed as early as January 1, and because many schools want the form filed early in the year, families commonly fill out the form with estimates of their previous year’s income and then adjust the figures later after completing their tax returns. This has sometimes created problems that affected students’ financial aid packages. To simplify and streamline the process, the Obama administration recently changed the application guidelines in a way that will affect college planning for most families.