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The first step in repaying student debt is knowing what you owe and what you don’t. The most frequently asked question we get is, “How much do I owe?” The answer is $1,100.

The repayment calculator below will show you what your student loan balance is and how much you can pay each month. This includes your federal, private, and private student loans as well as your Stafford loans, PLUS loans, and Perkins loans. You can select a payment payment, a fixed monthly payment, or a payment plan that you have already negotiated with your loan servicer.

You can make your payment or the payment plan with your loan servicer by:

Dialing 711 from your phone.

from your phone. Using the website StudentLoans.gov.

. Signing into your MyLoanAccount.

. Looking up your payment information.

If you pay using student loans, you can choose a payment schedule for all of your federal student loans, private student loans, and federal Stafford loans. If you don’t have student loans, you can choose your repayment plan by using your Direct Loan, Direct Consolidation Loan, and Direct Subsidized Loan payments. If you pay using any other payment, you’ll be able to customize your payments with income-based, income-contingent, or income-driven repayment plans.

Your student loan payments and loan payments will automatically appear in your My Payments account. The balance you have in your student loan account is the one you’ll be charged for each payment.

When will I receive my monthly payments?

If you’ve applied to and been approved for one of our income-driven repayment plans, you should receive your first payment in mid-May. Your monthly payment for the rest of the year will be based on your income and the amount you’ve borrowed.

For your first payment, you will see your payment amount, including any balance owed. Depending on your income, you may have to make additional payments after that.

You will make payments toward the total principal amount of your student loan each month. The amount you borrow each month is based on your income and the amount of the principal you borrow each month. Your monthly payments will include:

The interest on your loan

The fees associated with your loan, such as late fees and deferment fees

Your student loan payment will continue to increase until you make enough progress toward repaying your loan that you are no longer in default or if your loan is canceled. For those struggling to pay off their student loans, we suggest looking into programs to refinancing student loans.

In some cases, you may be able to cancel your loan for a variety of reasons, including changing jobs or attending school in a different state. Here’s how to cancel your loan.