Student Loan Payoff Calculator
See exactly when you'll pay off your student loans and how much you'll save in interest by making extra payments. Works for federal and private loans.
Your Debts
Payoff Strategy
Extra Monthly Payment
📊 Your Payoff Plan
Balance Over Time
| Month | Balance | Payment | Interest |
|---|---|---|---|
| Nov 2026 | $4,992 | $100 | $91.67 |
| Oct 2027 | $4,889 | $100 | $89.82 |
| Sep 2028 | $4,764 | $100 | $87.57 |
| Aug 2029 | $4,612 | $100 | $84.82 |
| Jul 2030 | $4,425 | $100 | $81.47 |
| Jun 2031 | $4,197 | $100 | $77.37 |
| May 2032 | $3,919 | $100 | $72.36 |
| Apr 2033 | $3,580 | $100 | $66.24 |
| Mar 2034 | $3,165 | $100 | $58.78 |
| Feb 2035 | $2,658 | $100 | $49.66 |
| Jan 2036 | $2,040 | $100 | $38.52 |
| Dec 2036 | $1,284 | $100 | $24.92 |
| Nov 2037 | $362 | $100 | $8.32 |
📱 Track your real payments and progress in the free app
Download Free App →Student Loan Repayment Strategies
With $1.7 trillion in outstanding student loan debt in the US, finding the right repayment strategy can save you thousands. Here are the most effective approaches:
Standard Repayment
Fixed payments over 10 years. Cheapest option for most borrowers. Use this calculator to see your total interest.
Aggressive Extra Payments
Pay extra when you can — even $100/month extra on a $30K loan at 6.5% saves over $3,000 in interest.
Refinancing
Private refinancing can lower your rate 1-3%, but you lose federal protections (income-driven plans, forgiveness).
Income-Driven Repayment
Federal loans only. Caps payments at 10-20% of discretionary income. May qualify for forgiveness after 20-25 years.
Should I Pay Off Student Loans or Invest?
This depends on your interest rate:
- Above 7% APR: Pay down debt aggressively — the guaranteed return beats most investment options.
- 4-7% APR: Do both — contribute to 401k for employer match, then split extra between debt and investments.
- Below 4% APR:Minimum payments may make sense — invest the difference if you're disciplined.
Track Your Payoff in the Free App
Use the DebtClear app to log payments, track your real balance, and get monthly reminders. Track federal and private student loans with your other payoff goals.
DebtClear App
Track your payoff plan in the DebtClear app
Free on Android — iOS coming soon