Student loan payoff calculator: 10 vs 25 years, and extra payments

Enter your balance and interest rate. See the monthly payment and total interest on a 10-year (standard) and a 25-year (extended) schedule, and how much sooner an extra monthly payment clears the loan and what it saves.

✓ TestedSame cent-rounded amortization as our tested loan spreadsheets

With the extra payment–

Plan	Payment	Paid off in	Total interest

How it works

The payment is the standard fixed-payment formula rounded to the cent. Each month, interest is the balance times the rate ÷ 12, rounded to the cent; the rest of the payment, plus any extra, reduces the balance, and the scheduled last payment clears it. Income-driven plans, forgiveness and interest that builds up before repayment are not modelled. Tables: student loan payoff table.