Student Loan Payoff Calculator
See your payoff date, total interest, and how extra payments accelerate freedom.
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Student loan debt averages $37,000 per borrower in the US. This calculator shows exactly when you'll be debt-free, how much total interest you'll pay, and — critically — how much time and money you save by adding even small extra payments each month.
よくある質問
How much does $100 extra per month save?
On a $35,000 loan at 5.5%, the standard $402/month payment takes 10 years and costs $13,200 in interest. Adding $100/month cuts the payoff to 7.3 years and saves about $3,000 in interest. The earlier you start, the more you save — extra payments in year 1 are worth more than the same payments in year 5.
Should I pay off student loans or invest?
Compare your loan rate to expected investment returns after tax. If your loan is at 6%+, paying it off is a guaranteed 6% return. If your rate is below 4% and your employer matches 401(k) contributions, capture the full match first (instant 50–100% return), then attack the loan.
What is the minimum payment on a student loan?
On the standard federal repayment plan, minimum payments are calculated to pay off your loan in 10 years (120 months). For a $35,000 loan at 5.5%, that's approximately $380/month. Income-driven repayment (IDR) plans can lower this to as little as $0/month based on your income, but the loan takes longer and costs more in total interest.
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For informational purposes only. Calculator results are estimates based on the inputs you provide. This is not financial, investment, tax, or legal advice. Consult a qualified financial professional before making major financial decisions.