Current for 2026•As of: July 2026

Student Loan Calculator calculate payment and cost.

Monthly annuity payment, total interest and total repayment amount for KfW loans and private student loans

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Student Loan Calculator

Calculate the monthly payment and total cost of student loans using the annuity formula.

KfW student loan: currently approx. 6–9% p.a. Private student loans: 1–5% depending on provider.

= 5.0 years

Monthly payment

€184.17

€11,050.20 total payment over 60 months

Interest vs. principal

  • Principal(90.5 %)€10,000.00
  • Interest(9.5 %)€1,050.20
Loan amount€10,000.00
Total payment€11,050.20
Of which interest€1,050.20
Interest share9.5 %

Formula: R = K · (z · (1+z)^n) / ((1+z)^n − 1), where z is the monthly interest rate (annual rate ÷ 12) and n is the term in months. Total cost = R × n.

Student financing: when does a student loan make sense?

Annuity formula, interest comparison and loan alternatives

A student loan can bridge the gap when BAföG (German state student aid), scholarships and your own income are not enough to cover tuition fees and living costs. Unlike an installment loan for consumer goods, a student loan is an investment in education and future earning potential – it should therefore be planned carefully.

The monthly payment of an annuity loan stays constant over the entire term: the interest portion decreases with each payment while the principal portion increases. The calculation follows the formula R = K · (z · (1+z)^n) / ((1+z)^n − 1), where z is the monthly interest rate (annual rate ÷ 12) and n is the term in months. Our calculator applies this formula exactly and rounds to two decimal places.

For a comparison of different offers, the effective interest rate is decisive – besides the nominal rate, it also accounts for processing fees and discount. The KfW student loan is transparent, but since 2022 has carried higher interest rates (6–9% p.a.) due to rising key rates, which noticeably increases the total cost. Cheaper alternatives are the education loan (low interest, max. €7,200) or special state-level funding programs.

The golden rule of student financing: first exhaust all free financing sources – BAföG, scholarships, family support and side jobs. Only once these are not enough does a loan make sense. Anyone taking out a loan should choose a monthly payment that does not overburden their budget after graduation. As a rule of thumb, a loan burden of no more than 20% of later net income is recommended.

Student financing at a glance

Comparison of the most important financing sources

BAföG: up to €992/month
50% grant, 50% interest-free loan; income-dependent
KfW student loan: €100–650/month
Available regardless of income; interest currently 6–9% p.a.
Education loan: max. €300/month
Low interest (approx. 2–4%); max. 2 years, €7,200 total
Scholarships: tax-free
Merit-based foundations, DAAD; no repayment required
Bank loans: variable
Savings banks, cooperative banks; compare interest rates!
Side job / working student: exempt
Up to €520/month: mini-job threshold; above: working student status

Calculation example

€10,000 student loan, 4% p.a., 60 months

€10,000 student loan, 4% p.a., 60 months
ItemAmount
Loan amount€10,000
Nominal interest rate4% p.a.
Monthly interest rate (4% ÷ 12)0.3333%
Term60 months
Monthly payment (annuity)€184.17
Total payment (184.17 × 60)€11,050.20
Of which interest€1,050.20

Frequently asked questions about the student loan calculator

Annuity formula, KfW loans and interest comparison explained

The monthly payment of an annuity loan is calculated using the formula: R = K × (z × (1+z)^n) / ((1+z)^n − 1). Here, K is the loan amount, z is the monthly interest rate (annual rate ÷ 12 ÷ 100), and n is the term in months. For €10,000 at 4% annual interest and 60 months, this gives: monthly rate 0.3333%, annuity factor 0.018417, payment ≈ €184.17.

The KfW student loan is a state-subsidized loan from Germany's KfW development bank (Kreditanstalt für Wiederaufbau). Students can draw down €100–650 per month. Interest rates currently (as of April 1, 2026: nominal rate 6.34% / effective rate 6.53% p.a.) range from roughly 6 to 9% p.a. – the exact rate is adjusted twice a year, on April 1 and October 1, based on the 6-month Euribor, not quarterly. Repayment begins at the earliest two years after graduation, following a grace period. The loan is available regardless of income.

In addition to the KfW student loan, there are: BAföG (state funding, 50% grant, 50% interest-free loan), the education loan from the Federal Office of Economics and Export Control (favorable interest rates, max. €7,200 over 2 years), scholarships (e.g. merit-based foundations, DAAD, Studienstiftung), bank loans (e.g. savings bank education loans), and student loans offered by individual German states. BAföG and scholarships should always be used first, since they require no repayment.

A shorter term means higher monthly payments but significantly lower total interest. Someone who repays the loan in 36 months instead of 72 months pays roughly half as much interest at the same rate. Choose a term so that the payment does not exceed your available income after graduation. As a rule of thumb, the monthly burden from loans should not exceed 20–30% of net income.

The nominal interest rate is the contractually agreed rate without accounting for additional costs. The effective interest rate additionally accounts for processing fees, discount and other costs, making it the comparable total price of the loan. Our calculator calculates the payment based on the nominal interest rate. For a genuine offer comparison, the effective interest rate should always be used (mandatory disclosure under German price indication law).

Important note

These calculations are for non-binding information only and do not replace professional tax advice. All information without guarantee. Learn more

Sources & calculation basis

Our calculations are based on the following official sources (as of: July 2026):

  • Authority
    KfW Bankengruppe

    Current terms of the KfW student loan (product 174), adjusted semi-annually to the 6-month Euribor

  • Law
    Preisangabenverordnung (PAngV)

    Mandatory disclosure of the effective interest rate for credit offers (§ 6 PAngV)

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