Student Loan Calculator
Estimate your education loan EMI, total interest, and repayment schedule.
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Student Loan Calculator
Use the formula and worked example below to calculate manually.
Overview
A student loan calculator helps you plan the repayment of an education loan by showing the monthly EMI, total interest, and the full repayment schedule — so you can make informed borrowing decisions before taking on student debt.
How to use this calculator
- Enter the education loan amount.
- Enter the annual interest rate (check your bank's current rate).
- Set the loan tenure (education loans usually allow 5–15 years).
- Optionally enter a moratorium period (the interest-only phase during and just after studies).
- The calculator shows EMI, total interest, and total repayment amount.
Understanding the inputs & results
Loan amount
The total amount borrowed to finance education — including tuition, hostel, and other expenses.
Moratorium period
A grace period during which you don't repay principal — usually the course duration plus 6–12 months. Interest may still accrue.
EMI (repayment phase)
The monthly payment after the moratorium ends, covering both principal and interest.
Total interest
Total interest paid over the loan lifetime — including any interest that accrued during the moratorium.
The formula
Student loan EMI after moratorium
Balance at EMI start = P × (1 + r)^m; EMI = B × r × (1+r)^n / ((1+r)^n − 1)
P = principal, r = monthly rate, m = moratorium months, n = repayment months. If interest during moratorium is capitalised, EMI is calculated on the inflated balance.
Worked example
₹10 lakh loan at 10.5% p.a., 2-year moratorium, 7-year repayment.
- Interest during moratorium (2 yrs) = 10L × 10.5% × 2 = ₹2.1 lakh (simple).
- Balance at start of repayment = ₹12.1 lakh.
- EMI for 84 months at 10.5% ≈ ₹20,170.
✓ Monthly EMI ≈ ₹20,170 after moratorium. Total repaid ≈ ₹16.9 lakh.
Frequently asked questions
Education loan terms differ by bank, course, and institute. Verify interest rates and moratorium rules with your lender before applying.