Student loan calculator API

Amortizes a student loan via M = P*r/(1-(1+r)^-n) and optionally scores affordability against the 8%-of-gross-income rule of thumb. Answers 'What is my student loan payment?','Is my student loan payment affordable on my income?'.

Price$0.01per request

MethodPOST

Route/v1/calc/loan-student

StatusLive

MIME typeapplication/json

Rate limit120/minute

CacheNo cache

loanstudenteducationamortizationaffordabilityincomecalculator

API URLhttps://x402.hexl.dev/v1/calc/loan-student

Integration docs

Example request

{
  "balance": 30000,
  "annualRatePct": 5,
  "termMonths": 120,
  "grossMonthlyIncome": 4000
}

Example response

{
  "monthlyPayment": 318.2,
  "totalPaid": 38183.59,
  "totalInterest": 8183.59,
  "termMonths": 120,
  "breakdown": {
    "balance": 30000,
    "annualRatePct": 5,
    "termMonths": 120
  },
  "paymentToIncomeRatio": 0.0795,
  "paymentToIncomePct": 7.95,
  "affordable": true,
  "affordabilityNote": "Within the 8%-of-gross rule of thumb."
}

Input schema

{
  "type": "object",
  "required": [
    "balance",
    "annualRatePct",
    "termMonths"
  ],
  "properties": {
    "balance": {
      "type": "number",
      "description": "Loan balance.",
      "examples": [
        30000
      ]
    },
    "annualRatePct": {
      "type": "number",
      "description": "Annual nominal rate in percent.",
      "examples": [
        5
      ]
    },
    "termMonths": {
      "type": "number",
      "description": "Term in months.",
      "examples": [
        120
      ]
    },
    "grossMonthlyIncome": {
      "type": "number",
      "description": "Optional gross monthly income for the 8% affordability test.",
      "examples": [
        4000
      ]
    }
  }
}

Output schema

{
  "type": "object",
  "additionalProperties": true
}