Calculate your student loan payoff timeline and interest saved with extra payments.
Email your personalized path to becoming debt-free
No spam, ever. We only email you about topics you care about. Unsubscribe anytime.
Your student loan payment is $0/mo — fit it into your budget.
Open Budget Planner with your numbersMonths to payoff = -log(1 - r×Balance/Payment) / log(1+r). Extra payments directly reduce principal. Interest saved = (standard plan total) - (accelerated plan total).
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.
Calculations are for educational purposes only. Consult a qualified financial advisor for personalized advice.