Student Loan Payoff Calculator
How many months it takes to clear a loan at your payment, and how much interest an extra payment saves.
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How to do it
- 1Add the text
Paste or type the text or amount here.
- 2See the result
The result appears right away as you type.
- 3Copy it
Copy the result and use it anywhere. Your text goes nowhere.
About this tool
Enter the balance, the yearly interest rate and your monthly payment. You see the months to pay off, the total interest and the payoff date. Add an extra amount to see how many months and how much interest you save.
Frequently asked questions
What if my payment is too low?
If it does not cover one month of interest, the balance never falls, and the tool tells you.
Does an extra payment really help?
Yes. Extra money reduces the balance sooner, so less interest is charged later.
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