Education Loan EMI Calculator
Plan your student loan repayment — see the EMI once repayment starts, and how much interest the loan will cost in total.
Example values shown — replace them with your own loan details. Estimates only, not financial advice. Rates are examples — actual rates vary by lender and profile, so verify with your lender.
How this calculator treats an education loan
Enter the principal, interest rate and the repayment period after the course ends. The EMI is calculated with the standard reducing-balance formula: EMI = P × r × (1+r)ⁿ ÷ ((1+r)ⁿ − 1).
The moratorium period
Most education loans allow a moratorium — no EMI while you study, and often for a short time afterwards. Interest usually keeps accruing during this period. If it is not paid, it may be added to the principal, so your repayment starts on a larger amount. For a closer estimate, enter the principal plus the interest expected to accrue.
Tax deduction on education loan interest
Interest paid on an education loan may be deductible under Section 80E of the Income Tax Act for a limited number of years, depending on the tax regime you choose. Rules change, so confirm the current position with a tax professional.
Frequently asked questions
What is a moratorium?
It is the period — usually the course duration plus a short time after — during which you do not have to pay EMIs. Interest generally still accrues.
Should I pay interest during the course?
Paying at least the interest while studying, if you can, stops it from being added to the principal, which lowers your later EMI and total cost. Whether that suits your situation is your call.
Can I prepay an education loan?
Usually yes — check your agreement for any charges. Use the prepayment calculator to see how much sooner a bonus or extra payment would close the loan.
Do rates depend on the college or course?
They can. Lenders often consider the institution, course, collateral and co-applicant. Compare offers before choosing.
Track every loan in one place
KadanMukti shows the true cost of all your loans, your debt-free date, and what an extra payment saves. Free to try, no signup.
Try the free demo →More free calculators
Estimates only, not financial advice. Rates are examples — actual rates vary by lender and profile, so verify with your lender. Calculator app, not a financial advisor.