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Student Loan Payoff Calculator

Project your student loan payoff. See standard 10-year payments, the effect of extra monthly principal, and total interest savings.

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Student Loan Payoff Calculator
See your standard 10-year payment and how much faster (and cheaper) you finish with an extra monthly principal payment.

$35,000

6.52% (federal undergrad: 6.52%)

Default 6.52%US Dept of Education — Interest Rates and Fees for Federal Student Loansas of AY 2026-27

10-year (Standard)

$0/mo extra

Standard payoff

120 mo

$397.77/mo · $12,733 interest

With +$0 extra

120 mo

$397.77/mo · $12,733 interest

Months saved

0

Interest saved

$0

Money Scale
Student Loan Payoff
MONEY SCALE

🎓 120mo standard

$35,000 @ 6.52% on a 10-year plan.

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The Student Loan Payoff Calculator projects your standard 10-year payment + how much faster (and cheaper) the loan resolves with an extra monthly principal payment. The default rate tracks the current US Department of Education Federal Direct Subsidized/Unsubsidized undergraduate rate (graduate and PLUS loans run higher). The calculator works for federal, private, and refinanced loans — adjust the rate to match your loan.

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Money Scale is built the opposite way from the big finance sites: the numbers you enter never leave your device, and there's nothing to sign up for.

  • Your numbers stay privateEvery calculation runs in your browser. We never receive or store your salary, balances, or inputs.
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  • No login, no emailUse every tool instantly — we never gate results behind a signup.
  • Sourced defaultsStarting rates and assumptions cite real data, not made-up numbers.

How this calculator works

  1. Enter your current loan balance (sum across loans if you have multiple — or model each separately).
  2. Set the interest rate. Check StudentAid.gov for federal loan rates; private loan rate varies by issuer.
  3. Choose the repayment term. Federal Standard Repayment is 10 years; Extended is 25; Income-Driven plans stretch payments based on income.
  4. Add an optional extra monthly payment to see how much faster you finish and how much interest you save.
  5. If considering refinancing federal loans into a private lender: weigh the rate savings against losing federal protections (income-driven plans, PSLF, deferment, death/disability discharge).

M = balance × [r(1+r)ⁿ / ((1+r)ⁿ − 1)] with extra: monthly principal += extra → faster amortization

Standard fixed-rate amortization. Adding an extra monthly principal payment applies it directly to the balance (after interest is charged), so the loan amortizes faster and total interest drops. For federal loans, you must explicitly request that extra payments go to principal — write 'apply to principal, not future payments' in the memo or use the servicer's online option.

balance
Current loan balance
r
Monthly rate (APR/12)
n
Number of payments (term in years × 12)
extra
Optional fixed extra principal payment per month

Frequently asked questions

Federal Direct loans default to a 10-year Standard Repayment plan with fixed monthly payments. Income-Driven Repayment plans (SAVE, IBR, PAYE) stretch payments based on income — useful for short-term cash flow but usually cost more total interest.

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Sources
Every default value is sourced. Verify anything.
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