Free Calculator
Student Loan Payoff Calculator
See when you could be debt-free, how much interest you'll pay, and which payoff method saves you more.
Every loan has an end date.
Let's find yours.
Add your loans, choose a payoff method, and see when you could be debt-free and how much interest an extra payment saves.
5 years, 11 months from now, paying $150 extra a month.
- Total balance today
- $27,000
- Interest on your plan
- $5,218
- Interest paying minimums only
- $9,973
- Interest you save
- $4,755
Payoff order
- Private loanFebruary 2030
- Federal loanSeptember 2032
That's 4 years, 2 months sooner than paying minimums only.
Avalanche vs. snowball
Total interest about $5,218. Paying the highest rate first usually costs the least.
Total interest about $5,218. Clearing small balances first gives you quicker wins.
How your payoff plan works.
Add each loan with its balance, rate, and minimum payment. Extra money goes to one target loan at a time, and when a loan is gone its minimum rolls into the next one.
Your debt-free date
See the month your last loan could be paid off with your current payments and extra amount.
Interest you save
Compare your plan with paying only the minimums to see how much interest an extra payment avoids.
Avalanche vs. snowball
Avalanche targets the highest rate first. Snowball clears the smallest balance first. See both side by side.
Your debt. Your plan.
There's no single right payoff method. Avalanche usually saves the most money, while snowball gives quicker wins that keep some people motivated. Pick the one you'll stick with.
Federal loans · Check income-driven options too
Private loans · Often the best target for extra payments
Refinancing · Try a lower interest rate to compare
Calculator FAQ
Questions behind the numbers.
Understand how the payoff estimate works and what it leaves out.
What is the avalanche method?
What is the snowball method?
How much does an extra payment help?
Does this work for income-driven repayment?
Where do I find my APR and minimum payment?
See your loans next to everything else.
Anseris connects your loans, bank, and brokerage so you can balance paying down debt with building savings and investments.