Student loan payoff calculator
Add each student loan to see payoff dates, total interest, and how extra payments shorten your timeline.
Combined payoff
Paid off in 107 months (Sep 2035)
Total interest: $3,395.59
By loan
Loan 1
Paid off in 107 months (Sep 2035)
Total interest: $2,687.56
Loan 2
Paid off in 72 months (Oct 2032)
Total interest: $708.03
Balance Over Time
Paying multiple debts? Try the snowball calculator or compare avalanche vs snowball.
FAQ
Can I model more than one student loan?
Yes. Add a row for each loan with its balance, APR, monthly payment, and optional extra payment. You will see results for each loan and a combined timeline.
How is monthly interest calculated?
Each loan uses monthly compounding: balance × APR ÷ 100 ÷ 12, rounded to cents, then your payment (plus extra for that loan) is applied.
What if a payment is too low to cover interest?
The calculator shows an error for that loan when the payment does not exceed the first month's interest on its balance.