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 |
|---|---|---|---|
| Oct 2026 | $4,992 | $100 | $91.67 |
| Sep 2027 | $4,889 | $100 | $89.82 |
| Aug 2028 | $4,764 | $100 | $87.57 |
| Jul 2029 | $4,612 | $100 | $84.82 |
| Jun 2030 | $4,425 | $100 | $81.47 |
| May 2031 | $4,197 | $100 | $77.37 |
| Apr 2032 | $3,919 | $100 | $72.36 |
| Mar 2033 | $3,580 | $100 | $66.24 |
| Feb 2034 | $3,165 | $100 | $58.78 |
| Jan 2035 | $2,658 | $100 | $49.66 |
| Dec 2035 | $2,040 | $100 | $38.52 |
| Nov 2036 | $1,284 | $100 | $24.92 |
| Oct 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