Skip to content

Debt & Loans

Student Loan Payoff Calculator

Estimate a student-loan payoff timeline and see how paying more than the entered minimum could reduce interest and payoff time.

$
%
$
$

Added on top of regular payment

Regular Payment

Payoff

9 yr 9 mo

Total Interest

$13,156

Debt-Free Date

Jul 2036

+ $200/mo Extra

Payoff

6 yr 5 mo

Total Interest

$8,432

Debt-Free Date

Mar 2033

Paying an extra $200/month saves you $4,724 and pays off your loans 3 yr 4 mo sooner.

What this means for you

At the entered payment, the modeled payoff date is Jul 2036, with about $13,156 of interest.

  • Compare this 5.5% rate with your other debts, cash-flow needs and any federal-loan benefits before deciding where extra dollars should go. A lower APR alone does not capture forgiveness or income-driven repayment value.
  • That extra $200/month shortens the modeled payoff by 3 yr 4 mo and saves about $4,724 of interest.
  • If your loans are federal, also check if income-driven repayment or Public Service Loan Forgiveness (PSLF) applies to you — those programs can change the math entirely.
Talk to Alex about whether extra payments or investing makes more sense for you

3 · Save only what matters

Keep the result or send the scenario.

Run the math first without an account. If this result is useful, save it to My MFA so you can reopen it instead of rebuilding the scenario.

Turn this result into a decision.

Compare it with another snapshot, keep your reasoning and set your next step.

Inputs, estimates & source dates

Keep this result

Save it to My MFA and come back later.

This keeps the scenario in your private My MFA workspace so you can reopen, compare and organize it. It does not publish the scenario.

Share or export

Send the scenario, copy a rerunnable link, or export a branded file.

Sharing is separate from saving to My MFA. Public links carry only the scenario inputs needed to reproduce this view.

PNG and PDF use the same high-resolution MFA export layout with result context and assumptions. On iPhone, Save PNG can open the iOS share sheet. MyFriendAlex.org is the full experience · MFA.Money is the short address.

Keep going

Related next steps

All calculators →

Debt & Loans

Loan Payoff Calculator

Estimate your payoff timeline and total interest, then see how extra payments could shorten the repayment period.

Open

Debt & Loans

Credit Card Payoff Calculator

Estimate how long it could take to pay off a credit-card balance and how extra payments could reduce interest and payoff time.

Open

Debt & Loans

Debt Snowball vs Avalanche Calculator

Compare debt snowball and debt avalanche using the same monthly debt budget, with modeled payoff time and interest for each strategy.

Open

Related MFA experience

See your Money Plan

Educational estimates only. Not financial, tax, investment, legal, payroll, mortgage, or insurance advice. Results may vary based on rates, tax rules, lender terms, state laws, and personal circumstances. Financial values entered into supported calculators may be stored privately with technical data such as IP address for MFA analytics, security, debugging and product improvement. Do not enter account numbers, passwords, Social Security numbers or login credentials. Privacy details.