2021 NerdWallet Best-of Awards Winner for Best Student Loan Refinancing Overall
2021 NerdWallet Best-Of Awards Winner

Student Loan Payoff Calculator

Check how long it will take you to pay off your student loans with our free Student Loan Payoff Calculator. Quickly see the effects of lower rates, extra payments, and different terms on your repayment plan.

Enter Your Student Loan Information

Loan Balance
Your remaining student loan debt to be repaid.
Interest Rate
The amount that the lender charges in interest, expressed as a percentage.


Current Monthly Payment
The total amount of your monthly student loan bill.
Add Multiple Loans to Calculate
Additional Monthly Prepayment
This is the extra amount you would like to put toward your loan every month in addition to your regular monthly payment.

Add Multiple Loans

Insert additional loan

Payoff Results

Current Payment w/ extra payment Difference
Term 10 years
Payoff Date
Total Interest $16,560

Want to pay off student loans faster while saving on interest? See your real-time prequalified refinance rates with our 2 minute comparison tool.

FAQs – Student Loan Payoff Calculator

Wondering how to calculate your student loan payoff date?

Calculating your payoff date for student loans is based on the repayment term of your student loans. If you have multiple loans, this could vary from loan to loan.

However, most student loan borrowers are automatically enrolled in the Standard Repayment plan of 10 years after taking out a student loan. If you never made any changes to your repayment plan, it’s likely your term began with a total of 10 years.

Based on your repayment term and how long you’ve been making payments, you can then calculate when your final payment would be. You can also see how many payments you have remaining on your monthly student loan bill or in your online student loan portal on your servicer’s website.

If you use our student loan early payoff calculator, you can also see how adding in extra payments could alter your student t loan payoff date.

Are you looking to calculate student loan payoff with extra payments?

In most cases, extra student loan payments (or larger student loan payments) would count toward your principal balance. Ultimately by making extra or larger payments toward your balance, you’ll pay off your student loans faster than you originally agreed to. Additionally, you’ll likely pay less interest total on your student loans since you’ll be paying them off more quickly and will have fewer total payments. Our multiple student loan payoff calculator can help you calculate early student loan payoff based on your extra payment information.

Most student loan lenders do not charge prepayment penalties, but it’s important to know that for sure before planning to make extra payments.

You can use our student loan payoff calculator for extra payments to see how that would change your overall repayment schedule.

If you qualify for Public Service Loan Forgiveness through the federal government, you would need to make 120 qualifying payments before having your remaining loan balance forgiven.

Ready to calculate the payoff amount on your student loans, or wondering how to calculate student loan payoff?

With our Student Loan Debt Payoff Calculator, you can check how long it will take you to pay off your student loans based on your current loan details.

You can see the impact of a lower rate on your monthly payment and total interest, and you can also add different extra monthly payments to see how that will change your repayment plan.

Based on your own financial situation and monthly budget, this estimated student loan payoff calculator can help you find the sweet spot of a manageable extra monthly payment and ideal student loan payoff schedule.

This student loan payment calculator for early payoff is a great first step toward seeing how you could payoff student loans faster. But in addition, there are plenty of other simple and easy ways to pay off student loan more quickly. Things like student loan refinancing, making extra payments, and making larger payments are all excellent ways to get out of debt sooner than planned.

Outside of using your college debt payoff calculator, you can check out our content hub How To Pay Off Student Loans Fast for a variety of handy resources, guides, and advice. Or you can read our article How to Pay Off Student Loans Fast With These 15 Tips for some quick and handy ideas.

For the most part, student loan servicers do not have prepayment penalties for making extra or larger payments. However, it’s important to check with your specific servicer to know for sure.

If you choose to refinance your student loans with one of Purefy’s partners, you’ll never be charged a prepayment fee by any of the lenders featured in our calculator for student loan payoff.

A grace period if a length of time after your graduate from college when you don’t have to make student loan payments yet.

Typically, for most types of federal student loans, you’ll have a 6-month grace period upon graduation before payments start. Most private student loans will also have a grace period, but private loans accrue interest when you’re still in school (even while payments are paused) while some federal loans do not.

Ultimately, a grace period is a great way to get your financial situation settled after you leave college before you need to worry about a monthly student loan bill.

If you’re struggling to make ends meet each month, there are a number of solutions that can help depending on the types of student loan you have (federal through the government vs. private through a bank or other financial institution).

Things like deferment, forbearance, or student loan refinancing can all be excellent strategies for pausing or lowering your monthly student loan payments.

For more information, read our article Looking to Lower Your Student Loan Payment? Here Are the Best Ways to Do It.

Or if you’re interested in refinancing your student loans to a lower rate and longer term to substantially drop your monthly bill, see our guide on When, Why, and How to Refinance Your Student Loans.

Student loans can be difficult to manage, especially for those with very high monthly bills. It can be easy to miss a payment or two if you can’t afford it. But if you’ve gone long enough without paying your bill, you may enter into student loan default.

If you think you may default on student loans or you’re already there, here’s what you need to know about the consequences and what you can do to get help.