Student Loan Payoff Calculator

Explore how payment size and an extra monthly amount could change a simplified student-loan payoff timeline.

Student loan balance ($)

Interest rate (%)

Monthly payment ($)

Extra monthly payment ($)

Enter your numbers and select Calculate.

What this calculator helps you understand

Free US student loan payoff calculator. Estimate payoff time and interest and test an extra monthly payment. The goal is to make the financial concept easier to understand by letting you test different scenarios rather than relying on a single example.

How to use it

Enter numbers that match your situation.
Change one assumption at a time and compare the result.
Use the result as an estimate, not a guarantee.

Important: This is an educational calculator. Actual results can differ because of rates, taxes, fees, plan rules, market performance, lender terms and other circumstances.

Frequently asked questions

How does the calculator work?

It uses simplified monthly amortization from your balance, interest rate and payment.

What happens if I pay extra?

Extra payments can shorten the modeled payoff period and reduce modeled interest.

Does it model federal loan programs?

No. It does not model income-driven repayment, forgiveness, deferment, capitalization, fees or servicer-specific rules.

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