Looking to pay off your student loans faster? With our Student Loan Payoff Calculator, you can see how quickly you can be student debt-free!
This calculator also serves as a student loan extra payment calculator so you can see how long it will take you to pay off your student loans by adding extra payments, refinancing your student loans, or doing both!
Student Loan Payoff Calculator
|Months to payoff||Total Interest Paid|
|With extra payments|
|If you refinanced to a lower rate|
|If you made extra payments AND refinanced|
|You could be debt-free as soon as|
Student Loan Payoff Calculator FAQ
What assumptions does this calculator make?
This calculator makes a few assumptions, including:
- That you’ve entered your current amount owed, current monthly payment correctly, interest rates, and all other information correctly. In other words, our calculator does not calculate or otherwise verify that you’ve entered this information correctly.
- You’re using a weighted average interest rate for your student loans.
- If you choose to refinance, all of your student loans are included.
- Any extra monthly payments are applied equally across all your loans.
- You make the same extra payment every month.
- You’re able to refinance at the rate that you’ve entered.
All that said, this calculator is for informational purposes only and doesn’t guarantee any rates, savings, or other information. It’s simply an estimate of what you might be able to save.