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See how much faster you'll pay off student loans with extra monthly payments.
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.
Calculate how extra monthly payments accelerate your student loan payoff. See total interest saved and how many months earlier you'll be debt-free.
Enter your loan balance, APR, and standard term.
Set the extra amount you can pay each month.
Compare standard vs accelerated payoff side-by-side.
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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