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Student Loan Payoff Calculator

Find out how many months it takes to pay off your student loan and the total interest you will pay.

Total outstanding principal on your student loan.
The fixed amount you plan to pay each month.

Results

Payoff Period (months)105
Total Amount Paid$31,567.34
Total Interest Paid$6,567.34

📖What is it?

The Student Loan Payoff Calculator uses the loan amortisation formula to determine exactly how many months it will take to eliminate your student loan balance — and the total interest cost — given a fixed monthly payment.

🎯How to use

Enter your current loan balance, the annual interest rate on your loan (check your servicer or loan documents), and the monthly payment you plan to make. Results appear instantly.

💡Example scenario

A $25,000 loan at 5.5% interest with $300/month payments will be paid off in approximately 107 months (about 9 years) with roughly $7,000 in total interest paid.

🏆Pro tip

Even paying an extra $50 per month on a $25,000 loan at 5.5% can save you over $1,000 in interest and shave more than a year off repayment. Look into income-driven repayment plans if payments feel unmanageable.