Student Loan Payoff Calculator
Enter your balance, rate, and current monthly payment. Add an extra amount to see how much sooner you'd be debt-free and how much interest you'd save.
Balance over time
Methodology & how to use this
How it simulates payoff
Each month, we accrue interest on the remaining balance at APR / 12, then apply your payment. If the payment doesn't cover the interest, the loan never pays off — the calculator flags that case.
What this doesn't handle
Federal repayment plans with capped payments (IDR, SAVE), forgiveness programs (PSLF), interest subsidies, and refinancing scenarios. For those, use this tool for the "if I just paid more" math and check your servicer's tools for plan-specific numbers.
Keep running the numbers
Related calculators worth pairing with this one.
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Savings Goal Calculator
Required monthly deposit to hit a target — or the date you hit it.
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Split monthly income into needs, wants, and savings — with editable percentages.
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