Smart tools for smarter college decisions
Estimate your student loan payments and see how long it will take to pay off your debt. Our calculator shows monthly payments, total interest, and payoff timelines — plus lets you compare costs across multiple schools.
Unlike generic calculators, Financial GPS uses real data from 1,200+ colleges with GPS Affordability ratings so you can find schools that offer the best return on your investment.
Follow these three simple steps to find the best financial value for your education
Choose up to 3 colleges you're considering from our database of 2,000+ institutions.
💡 Tip: Compare similar schools in your region for best insights
Toggle 'Independent Student' if applicable, then review net prices customized to your income bracket.
💡 Tip: Net price varies significantly by income level
Review 10-year earnings, debt levels, and investment value metrics to identify which school delivers the best financial return.
💡 Tip: Look at debt-to-income ratios, not just sticker price
When our tools indicate "standard repayment feasible," it means your projected earnings are sufficient to cover a standard 10-year loan repayment plan without requiring income-driven repayment (IDR) options. This typically means your debt-to-income ratio is below 8%, allowing you to pay off loans on schedule while maintaining financial stability.
IDR plans cap your monthly student loan payment at a percentage of your discretionary income (typically 10-15%). These plans are designed for borrowers whose standard payments would exceed their ability to pay. While IDR can provide relief, it may extend your repayment timeline and increase total interest paid over the life of the loan.
Parent PLUS loans are federal loans that parents can take out to help pay for their child's education. Unlike student loans, Parent PLUS loans are in the parent's name, have higher interest rates (8.94%), and don't qualify for most income-driven repayment plans. Our Parent Risk Check evaluates affordability using discretionary income (gross income minus 200% FPL for a family of 3), following Lumina Foundation research standards. This means a household earning $75K has only ~$25K discretionary income for debt—not the full $75K.
Discretionary income is your gross income minus the cost of basic necessities. For parent burden calculations, we subtract 200% of the Federal Poverty Level for a family of 3 ($50,120) from gross income. This methodology, developed by the Lumina Foundation, provides a realistic view of repayment capacity. For families earning $50K or below, discretionary income approaches zero, indicating minimal capacity for educational debt—a critical insight that gross income calculations miss entirely.
Net price is the actual cost of attendance after grants, scholarships, and other financial aid are applied. This figure varies significantly by family income level, as need-based aid reduces costs for lower-income families. Net price is a more accurate representation of what you'll actually pay than the sticker price (published tuition and fees).
The time to pay off student loans depends on your loan amount, interest rate, and monthly payment. The standard federal repayment plan is 10 years, but income-driven plans can extend to 20-25 years. Use our calculator to see your personalized payoff timeline based on different payment scenarios.
Monthly payments vary based on total loan amount, interest rate, and repayment term. For federal loans, the standard payment is about $300-400/month for the average borrower (~$30,000 debt). Enter your expected loan amount above to calculate your specific monthly payment.
Student loan interest is calculated daily using simple interest. The formula is: Interest = (Principal × Interest Rate) ÷ 365 × Days Since Last Payment. Federal undergraduate loans currently have rates around 5-7%. Our calculator factors in interest accrual to show your true total cost.
Generally, pay off the loan with the highest interest rate first (avalanche method) to minimize total interest. Alternatively, the snowball method targets the smallest balance first for psychological wins. Use our Student Risk Check to see which approach works best for your situation.
Our Compare Schools tool lets you view up to 3 colleges side-by-side. We show net price (after aid), expected debt at graduation, and GPS Affordability rating. This helps you find schools with the best value — not just the lowest sticker price.
Income-driven repayment plans adjust your monthly student loan payment based on your income and family size. Common IDR plans include Income-Based Repayment (IBR), Pay As You Earn (PAYE), and SAVE. These plans typically cap payments at 5-10% of your discretionary income and may offer loan forgiveness after 20-25 years of payments.
Our return on investment calculations use median earnings data from the federal College Scorecard, which tracks actual outcomes for millions of graduates. While these figures represent typical outcomes, individual results vary based on major, location, and career path. The calculations provide a useful baseline for comparing schools.
