Student Loan Payoff Calculator
Adding even a small amount to each student loan payment cuts years off the balance. See your payoff date and the interest you keep.
Your loan
$
%
yrs
$
Payoff time with extra payments
7 yrs 7 mo
Standard monthly payment$432.06
With extra payment$532.06
Standard payoff time10 yrs 0 mo
Time saved2 yrs 5 mo
Interest without extra$13,848
Interest with extra$10,244
Interest saved$3,603
How this works
Extra payments are applied to principal, so make sure your servicer is not treating them as an advance on next month's bill. Federal income-driven plans and forgiveness programs change the math — check those before accelerating payoff.