You can use this student loan payoff calculator to estimate how long it will take to pay off your student loans. Using the interest rate and outstanding student loan amount, the calculator will tell you the number of months it will take to pay off the loan at a given monthly payment amount.

Calculator Definitions

The variables used in our online calculator are defined in detail below, including how to interpret the results.

This is the total amount of the student loan, also referred to as the loan's principal.

Annual Interest Rate (%)

This is the annual interest rate on the student loan.

Monthly Payment ($ / Month)

This is the desired monthly payment on the student loan. If the amount paid is too low, the interest charges will not be covered, and the payoff period will be an error.

Student Loan Payoff Period (Months)

This is the time it will take to pay off the student loan (in months) using the monthly payment about you've provided. If this period indicates an error, then the monthly payment you've chosen is too low to cover the interest charges on the loan. Try using the calculator again with a higher monthly payment.

Total Student Loan Payments ($)

The total amount paid to the government or lending institution over the life of the student loan.

Total Interest Paid ($)

The total amount of interest charges paid over the term of the loan. This is the cost of borrowing money from the lending institution. The lower the monthly payment that you choose, the longer the loan will be outstanding, and the higher the total interest paid will be.

Disclaimer: These online calculators are made available and meant to be used as a screening tool for the investor. The accuracy of these calculations is not guaranteed nor is its applicability to your individual circumstances. You should always obtain personal advice from qualified professionals.