Student Loan Payoff & Interest Calculator

Most student loans use simple interest that accrues daily or monthly. Our calculator shows how payments reduce your balance and interest over time.

Adding even small extra payments each month can save thousands in interest and shorten your loan term.

Fixed loans have steady rates and predictable payments. Variable loans can change over time. This tool only calculates fixed interest.

Q: How much can I save by paying extra each month?
A: Even an extra $25–$100 per month can reduce your total interest and shorten your repayment period significantly.

Q: How fast can I pay off my loan?
A: Increasing your payments shortens the term. Use the calculator to test different strategies instantly.

Q: Does making extra payments reduce my monthly obligation?
A: No, extra payments reduce your principal balance but do not automatically lower your required monthly payment.

Q: Can I use this as a student loan interest calculator?
A: Yes. This tool estimates how much interest you will pay over time based on your interest rate and repayment strategy.