Student Loan Payoff Calculator — Find Your Fastest Path to Zero
Calculate your student loan payoff timeline and interest saved with extra payments.
Enter Your Numbers
Your Results
Payoff Timeline
89 months
Total Interest
$9,500
Interest Saved
$3,588
Standard Term
121 mo
Get Your Personalized PDF Report
Everything above plus:
- Detailed breakdown with your exact numbers
- How you compare to the national average
- Personalized recommendations
- Save and revisit anytime
No spam. Unsubscribe anytime.
Recommended next step
Partner links. We may earn a commission at no cost to you. This does not affect our editorial independence or calculator accuracy.
How This Calculator Works
Months to payoff = -log(1 - r×Balance/Payment) / log(1+r). Extra payments directly reduce principal. Interest saved = (standard plan total) - (accelerated plan total).
Frequently Asked Questions
Standard 10-year repayment on $30K at 7%: $348/month, $11,700 in interest. Extra $200/month cuts this to 6.5 years, saves $4,200 in interest.
Federal loans under 5%: consider investing in market (expected 7%). Private loans above 7%: aggressively pay off. Variable rate loans: pay off to reduce risk.
Avalanche method: pay off highest-rate private loans first. Keep federal loans on standard 10-year or income-driven. Refinance private loans to lower rate if possible.
Refinancing $50K at 8% to 5% and same 10-year term saves ~$8,500 total. WARNING: refinancing federal loans makes them private — you lose IBR, PSLF, and forgiveness options.
PSLF forgives remaining federal loan balance after 10 years of payments while working for government or 501(c)(3) nonprofits. Don't refinance if pursuing PSLF.
Related Calculators
Calculations are for educational purposes only. Consult a qualified financial advisor for personalized advice.