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See how much faster you'll pay off your student loans — and how much interest you'll save — with extra monthly payments.
Standard Plan
$397.42/mo
120 months • $12,690 interest
With Extra Payment
$497.42/mo
89 months • $9,270 interest
Interest Saved
$3,420
Pay off 31 months earlier
Standard Payoff
120 mo
With Extra
89 mo
Months Saved
31
Total Paid
$44,270
Avalanche vs SAVE plan
If you have multiple federal loans, federal IDR plans (SAVE/IBR/PAYE) may lower your monthly payment but extend the term. This tool shows your true cost of accelerating payoff — useful when comparing forgiveness vs payoff strategies.
Student Loan Payoff Calculator compares your standard repayment timeline against an accelerated payoff plan and shows months saved and total interest saved from extra monthly payments.
Student Loan Payoff Calculator is a high-performance utility designed to help users streamline their workflow. Built with modern web technologies, it ensures fast processing times and high-quality outputs directly in your browser.
Standard payoff uses the same PMT formula over the original term. Accelerated payoff recalculates term using the monthsToPayoff formula: −ln(1 − r×B/PMT) / ln(1+r). Both ignore income-driven repayment (IDR) and forgiveness programs.
If your loan APR is above ~5–6%, paying extra usually beats investing on a risk-adjusted basis. Below 5%, weigh tax deductibility (up to $2,500/yr) and competing returns.
Federal loans offer IDR plans (SAVE/PAYE/IBR), forbearance, and PSLF — extra payments lose access to forgiveness. Private loans have no forgiveness, so accelerating usually wins.
Yes — but you must instruct your servicer to apply extra payments to principal (not the next month's payment). Most servicers have an explicit option for this.
Federal Direct undergraduate loans for 2025–26 are 6.53%. PLUS loans are 8.94%. Private loans range from 5% to 16% depending on credit and co-signer.
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