Student Loan Payoff Calculator
Map your way out of student debt. See your payoff time and total interest — and how much an extra payment each month speeds things up.
Example: with Loan balance $35,000 · Interest rate 6% · Monthly payment $450 · Extra payment / month $100 → Payoff time: 8 yr 3 mo.
- Total interest$9,434
- With extra payment6 yr 5 mo
- Interest saved with extra$2,199
Computed by the calculator below using its default values. Change any input to see your own numbers.
Refinance and repayment-plan tools
Learn moreExtra payments are powerful
On student loans, every extra dollar goes straight to principal, so even a small additional payment can knock months off the timeline and save real interest. The standard federal plan runs 10 years; paying more shortens it, while income-driven plans stretch it out and can cost more interest overall.
How it’s calculated & sources
We simulate the payoff month by month at your rate and payment, then repeat with the extra amount added, and compare total time and interest. If the payment doesn’t cover the monthly interest, the balance never falls.
Benchmark: the standard federal repayment term is 10 years; extra payments cut both time and interest.
Results update as you type and are general estimates, not personalized financial, tax, medical or legal advice. Verify with a professional.
Frequently asked questions
Will extra payments go to principal?
Tell your servicer to apply extra amounts to principal — otherwise they may advance your due date instead, which doesn’t save interest.
Pay off loans or invest?
Compare your loan rate to expected investment returns. High-rate private loans are usually worth attacking first; low-rate loans can coexist with investing.