CalculatePayoff time120 months
Total interest$12,822
$457/moSTUDENT LOANS · UNITED STATES
United States Student Loan Payoff Calculator
Build a realistic repayment plan and see how much time and interest an extra payment could save.
Free Calculator📅 Updated for 2026⚡ Instant results
Your loan details
Use your current servicer balance and weighted rate.
$
%
years
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Applied after your required payment each month.Applies to eligible federal loans.
Advanced options (optional)
Assumes no deferment, capitalization, fees, or payment pauses.
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 estimate Illustrative only | $260 | $62,497 | Aug 2046 | Varies | Yes* |
| 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 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.
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?+
No. Those programs depend on income, family size, loan type, qualifying employment, and current federal 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.