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Education Loan Calculator

Calculate EMI with moratorium period, amortization schedule, and PDF export

Last Updated: July 2026
Education loan amount
Education loan interest rate
Repayment period after course completion
Interest-only period during/after study
Monthly EMI
—
After moratorium period
Total Interest
—
Including moratorium interest
Total Payment
—
Principal + All Interest

Principal vs Interest Over Time

Yearly Summary

YearPrincipalInterestTotal PaidBalance

Monthly Amortization Schedule

MonthEMIPrincipalInterestBalance

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What Is an Education Loan Calculator?

An Education Loan Calculator accounts for the unique moratorium period in student loans. During your course and for 6-12 months after, you only pay interest (or it gets capitalized). After the moratorium, regular EMI repayment begins.

This calculator shows the complete picture including moratorium interest, post-moratorium EMI, and the full amortization schedule. It also highlights the Section 80E tax benefit where the entire interest paid is deductible for up to 8 years.

Education Loan EMI Formula

EMI = P' × r × (1+r)n / [(1+r)n −1]
P' = Principal after moratorium (includes capitalized interest)r = Monthly interest raten = Repayment months

Frequently Asked Questions

What is the moratorium period in education loans?
Moratorium is the period during your course plus 6-12 months after getting a job. During this period, you pay only interest (or it gets capitalized). No EMI is required. After moratorium, regular EMI repayment begins.
What tax benefits are available on education loans?
Section 80E allows deduction on entire interest paid (no upper limit) for up to 8 years. This is one of the most generous deductions — unlike 80C which has a ₹1.5L cap. The principal repayment does not qualify for any deduction.
Can I get education loan for studying abroad?
Yes, most banks offer education loans for overseas education. Amounts up to ₹10L without collateral and above ₹10L with collateral (property/FD). Interest rates are typically 9-12%. Some banks offer special schemes for premier institutions.
What documents are needed for education loan?
Admission letter, mark sheets, fee structure, ID proof, address proof, income proof of parent/guardian (ITR, salary slips), bank statements, collateral documents (for loans above ₹4L), and a co-applicant (parent/guardian) is mandatory.
Is education loan covered under any government scheme?
Yes, the Vidya Lakshmi portal allows applying to multiple banks. The Credit Guarantee Fund Scheme for Education Loans (CGFSEL) provides collateral-free loans up to ₹10L. Dr. Ambedkar Central Sector Scheme provides interest subsidy for economically weaker sections.

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