Student Loan Repayment Calculator: What You Need to Know

What a good calculator should show

A repayment calculator should do more than divide balance by months. It needs your interest rate, any grace period before repayments start, and the effect of additional payments — because those change the total interest and the debt-free date.

It should also relate the instalment to your income. Banks and credit providers look at total debt service as a share of gross income. Above roughly 30% across all debt, new credit becomes difficult regardless of how disciplined you feel.

Inputs worth getting right

Use your actual contracted rate, not a generic prime assumption. Fixed and variable study loans behave differently when rates move.

Include the months before repayment starts if you are still studying or in an internship — interest often capitalises during that period and increases the balance you eventually repay.

Model a stressed income scenario: what happens if your first job pays 20–30% less than expected? The ratio of repayment to income is the stress test that matters.

Reading the outputs

Time to clear is the headline, but total interest paid tells you the true cost of the qualification. Compare normal repayment against an accelerated scenario side by side.

MyGenie shows five layers — immediate cash flow, medium-term position, long-term wealth, risk and a decision summary — so one calculator session answers both 'can I afford this month?' and 'what does this cost me by age 40?'

This article is illustrative and educational. It is not financial, tax, or legal advice. Figures are examples only — model your own situation in MyGenie or speak to a licensed financial adviser.