How the student loan repayment calculator works
Last updated 10 November 2026
A study loan is paid back after you graduate. If interest builds up while you study, you start repaying a bigger amount than you borrowed.
How it works
- Owed at graduation = amount borrowed × (1 + rate ÷ 12) to the power of the months of study, if interest builds up.
- Monthly repayment uses the standard loan formula over the repayment period.
Worked example
With the starting figures:
- R150 000 grows to R 206 789 by graduation.
- You then pay R 4 470 a month for 60 months.
- Total interest is R 118 221.
How a study loan works
A study loan is usually paid back after you graduate. If interest builds up while you study, you start repaying a bigger amount than you borrowed. This calculator shows what you owe at graduation and what the monthly repayment could be.
What you enter
- The amount borrowed
- The yearly interest rate, from your loan agreement
- The months of study left, and whether interest builds up while you study
- The repayment period after you finish
How the sums work
If interest builds up, the amount owed at graduation is the amount borrowed multiplied by one plus the monthly rate, raised to the power of the months of study. The monthly repayment then uses the standard loan formula over the repayment period. The result also shows the total interest.
Compare with your salary
A repayment looks different next to the pay you expect. Compare it with the take-home amount in the graduate salary calculator. A longer repayment period lowers each payment but raises the interest in total.
What this does not cover
Loan terms vary, and some funding schemes work differently, so read your agreement for the real rules. The calculator uses one steady interest rate and does not include fees or insurance. It does not cover NSFAS or other bursaries, which have their own conditions.
Reducing the cost
The total interest depends on the rate, the amount owed at graduation and how long you take to repay. Paying a little more than the minimum, if your agreement allows it, shortens the term and lowers the interest. Try a shorter repayment period in the calculator to see the effect on the monthly amount and the total cost.
Things to watch
- Loan terms vary. Read your agreement.
- Compare the repayment with the salary you expect.
See what you could take home with the graduate salary calculator. Read the full disclaimer.