What would paying a little extra do to your student loan?

Put in your balance, your rate, and the payment your servicer asks for. Then add whatever extra you could manage each month. You'll see the payoff date with and without it, and what the difference costs in interest. Even $50 moves the date.

Paying $450 a month instead of $350, you'd have this loan paid off in Sep 2033 instead of Jul 2036: 2 years and 10 months sooner, with $3,404 less interest.

PlanPaid offInterest

Required payment onlyJul 2036$11,189

With your extraSep 2033$7,784

What you'd still owe, year by yearRequired paymentWith your extra

How this is worked out

Interest is added monthly at the rate you give, then the payment comes off, and the extra goes straight to principal. The rate is held steady and there are no fees, forbearance or income-driven changes, so treat the dates as a direction rather than a promise. Nothing you type leaves this page.

Getting there faster

Three ways people speed this up.

Small changes, kept up for years, are what move the date.

Highest rate firstIf you have several loans, put the extra on the one with the highest interest rate. This is the avalanche method, and it saves you the most money on paper.

Smallest balance firstOr pay off the smallest loan first. This is the snowball method. Clearing one loan completely is a real win, and for a lot of people that is what keeps them going.

A lower rateWith good credit, refinancing to a lower rate can save thousands. Be careful with federal loans: refinancing them with a private lender gives up income-driven repayment, forgiveness programs and other federal protections.