CalculatePayoff time120 months
Total interest$12,822
$457/moUnited States Student Loan Payoff Calculator
Build a realistic repayment plan and see how much time and interest an extra payment could save.
Your loan details
Use your current servicer balance and weighted rate.
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Applied after your required payment each month.Applies to eligible federal loans.
Advanced options (optional)
Enter interest expected to capitalize before repayment. Future pauses, fees and later capitalization events are not automatically predicted.
Verified for 2026Methodology 2026.1 · reviewed 2026-08-08 · review by 2026-12-01
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Compare scenarios
Change your extra monthly payment to see the trade-off in payoff time and total interest.
Repayment plan comparison
Assumes no future rate increases and consistent payments.
| Plan | Monthly payment | Total paid | Payoff date | Total interest | Possible forgiveness |
|---|---|---|---|---|---|
| Standard (10 years) No extra payment | $457 | $54,822 | Aug 2036 | $12,822 | No |
| Income-driven planning estimate 10% of income above 150% of entered poverty guideline | $304 | $67,061 | Jan 2045 | $25,061 | Possible; verify current plan rules |
| Standard + $100 Extra payment + auto-pay | $557 | $51,770 | May 2034 | $9,770 | No |
Your balance falls faster
Projected remaining balance with your extra paymentStandard plan vs. your plan
Payoff time93 months
Total interest$9,770
$557/moA better payoff plan starts with the right context
Extra payments can be powerful, but federal protections, forgiveness eligibility, and emergency savings matter too.
How interest accrues
Interest accrues daily on your outstanding balance. Extra payments reduce principal faster, which saves interest and shortens payoff time.
Federal vs. private loans
Federal loans may offer income-driven plans and forgiveness options. Private loans typically do not. Know the differences.
Income-driven repayment
If payments are tight, income-driven plans can lower your monthly payment. Remaining balance may be forgiven after 20–25 years.
Forgiveness and PSLF
Public Service Loan Forgiveness can forgive remaining federal loans after qualifying payments while working in eligible jobs.
How to use this calculator
- 1Enter your loan balance, interest rate, and repayment term using the fields above.
- 2Read the monthly payment plan together with the debt-free date and interest-saved metrics.
- 3Select a comparison scenario and change one assumption, like your extra monthly payment, at a time.
- 4Check the method and limitations below before using this educational estimate in a decision.
How it works
We project your balance over time using standard loan amortization and compare repayment paths.
Balance × (1 + rate ÷ 12) − paymentWorked example
- Starting balance: $42,000
- Interest rate: 5.80%
- Monthly payment: $557
- Payoff date: May 2034
- Total interest: $9,770
Assumptions & limitations
- Rates and payments remain constant.
- No additional loans or rate increases.
- Does not include taxes or fees.
- Forgiveness requires meeting program rules.
Federal Student Aid — RepaymentOfficial borrower resource →
Consumer Financial Protection BureauOfficial borrower resource →
Credit Card Payoff CalculatorContinue planning →Social Security BenefitsContinue planning →Methodology: Standard amortization with a fixed annual rate and equal monthly payments. Last reviewed July 31, 2026.
What your result means
This student loan payoff calculator translates your balance, rate, and extra payment into a practical planning estimate. Review the headline monthly payment together with the debt-free date and interest-saved metrics above.
The live result above currently shows a monthly payment of $557, paying off your balance by May 2034. Change the inputs and compare scenarios to see how sensitive the estimate is.
Back to calculator topics ↑How this calculator works
The calculator applies standard loan amortization: each month's interest is charged on the remaining balance, your payment is applied, and the projection repeats until the balance reaches zero.
The live result above currently shows a monthly payment of $557, paying off your balance by May 2034. Change the inputs and compare scenarios to see how sensitive the estimate is.
Back to calculator topics ↑Assumptions and factors not included
The estimate does not automatically account for loan servicer terms, interest capitalization rules, or forgiveness program eligibility -- confirm those details with your loan servicer or the Federal Student Aid website before acting.
The live result above currently shows a monthly payment of $557, paying off your balance by May 2034. Change the inputs and compare scenarios to see how sensitive the estimate is.
Back to calculator topics ↑How to use the estimate
Use a realistic extra-payment amount you can sustain, compare more than one scenario, and revisit the calculation whenever your balance, rate, or budget changes.
The live result above currently shows a monthly payment of $557, paying off your balance by May 2034. Change the inputs and compare scenarios to see how sensitive the estimate is.
Back to calculator topics ↑Before paying extra
- Confirm there is no prepayment penalty.
- Tell the servicer to apply extra money to principal.
- Keep an emergency fund and capture any employer match.
Federal borrower reminderCheck whether income-driven repayment or Public Service Loan Forgiveness could be more valuable than rapid payoff before refinancing or making large extra payments.
Explore the official Federal Student Aid Loan Simulator →Student loan payoff FAQ
Should I pay off student loans early?+
It can be a strong choice after essential expenses, emergency savings, and high-interest debt are covered. Compare the guaranteed interest savings with other goals and any federal benefits you may lose.
Does an extra payment always reduce principal?+
Usually, but servicer instructions matter. Ask that extra funds be applied to principal rather than simply advancing your next due date.
What interest rate should I enter for several loans?+
Use the weighted average rate for a combined estimate, or calculate each loan separately for the most accurate payoff order.
Does this include income-driven repayment or forgiveness?+
It provides a simplified income-driven payment estimate for eligible Direct loans using the entered income, family size and poverty guideline. It does not determine enrollment, subsidy, forgiveness or current plan-specific legal eligibility.