Student Loan Repayment & Payoff Calculator
Repayment Plan & Interest Savings
Under the standard US federal student loan 10-year repayment plan, allocating just $50 to $100 in extra monthly principal can shorten repayment by several years.
Scenario Comparison: Standard vs Accelerated
| Scenario | Monthly Payment | Total Interest Paid | Total Out-of-Pocket | Payoff Time |
|---|---|---|---|---|
| Standard Plan (No Extra) | $ 418.07 | $ 12,168.58 | $ 50,168.58 | 10 years |
| Accelerated Plan (With Extra) | $ 518.07 | $ 9,035.88 | $ 47,035.88 | 7 years and 7 months |
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How it works
Enter your total student loan balance and interest rate (APR).
Select your repayment timeline (standard 10-year term or custom 5 to 25 years).
Enter an optional extra monthly payment to calculate your accelerated payoff date and total interest saved.
Frequently asked questions
How does paying extra principal help student loans?
When you pay more than the minimum monthly requirement, the extra funds directly reduce your principal balance, lowering the baseline on which future interest accrues.
What is the standard federal repayment term?
Federal student loans automatically default to a 10-year standard fixed monthly repayment plan unless you enroll in an Income-Driven Repayment (IDR) plan.
Is this tool free?
Yes. The site is supported by ads, so you never pay or need to create an account.
Does it work on mobile?
Yes. The page adapts to your screen and does not require installing any app.