Manage Your Money

Master the skills that can help you manage money throughout life.

Calculate Daily Interest On Your Loan

Estimate how much you save by making payments sooner

Generally, interest on student loans is calculated daily. The daily interest is the amount of interest that you would normally be required to pay each month on your loan. Use this calculator to:

  • Figure out the interest amount owed since your last payment.
  • Experiment with the "number of days" field to see how making payments earlier results in a lower interest amount.

Daily Interest Calculator
Loan Principal (Balance Owed) $
Number of days since last payment   
Number of Days in a Year (to use for calculations)*    
Annual Interest Rate    %
Daily Interest Rate Factor    
Interest amount owed
since your last payment

*This can vary by financial institution (default = 365)

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