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Student Loan Payoff Calculator

See how extra payments can save you thousands

Standard Payments

Payoff DateApril 2035
Total Interest$12,565
Months119

With Extra Payment

Payoff DateOctober 2032
Total Interest$9,122
Months89
You save $3,444
and pay off 30 months sooner

📚 Income-Driven Repayment Plans

  • SAVE Plan: Caps payments at 5% of discretionary income for undergrad loans. Forgiveness after 10–20 years.
  • PAYE: 10% of discretionary income. Forgiveness after 20 years.
  • IBR: 10–15% of discretionary income depending on when you borrowed. 20–25 year forgiveness.
  • ICR: 20% of discretionary income or fixed 12-year payment. 25-year forgiveness.
  • Visit studentaid.gov to apply and get official estimates.

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For educational purposes only. Not financial advice. Loan terms vary. Visit studentaid.gov for official information.