// STUDENT FINANCE

Student Loan Payoff Calculator

See your exact payoff date, total interest paid, and how much extra payments can save you over your loan term.

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Debt-Free Date
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Time to Pay Off
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Total Interest
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Interest Saved

    Frequently Asked Questions

    Should I pay off student loans early or invest?
    A common rule: if your loan rate is above about 6%, paying it down early is a guaranteed return that beats most safe investments. Below about 4%, investing (especially to get an employer 401k match) often comes out ahead. In between, many people split the difference.
    Does this work for UK or Canadian student loans?
    It works for any loan with a fixed rate and fixed payment. UK Plan 2/5 loans are different: repayments are a percentage of income above a threshold and the balance is written off after a set period, so paying extra early does not always save money.
    What about US federal forgiveness programs?
    If you work in public service (PSLF) or are on an income-driven repayment plan, paying extra may reduce the amount that would otherwise be forgiven. Check your options at studentaid.gov before making extra payments.

    For educational purposes only — not financial, tax or legal advice. Results are estimates; check with a qualified professional before making major decisions.