Student loan debt can feel overwhelming, especially when you’re juggling multiple loans with different interest rates. This calculator is here to help you cut through the confusion. Enter your loans, pick a timeline, and find out exactly what your monthly payment needs to be to become debt-free.
How to use this calculator
This calculator is built for people who have one or more student loans and want to understand what it would take to pay everything off within a set number of years.
- Start by entering each of your loans individually. You can input the balance and interest rate for each one.
- You can add as many loans as you need.
- Then, choose how many years you’d like to take to pay them off.
- The calculator factors in every loan’s balance and interest rate individually, then adds it all up to show exactly what you need to pay each month to wipe it out on your terms.
You can experiment with different timeframes to see how your payment changes, or even use it to build a more realistic payoff plan for your budget.
Student Loan Payoff Calculator
Enter your loans below to find out what you need to pay each month to be debt-free in your chosen number of years.
Why student loan debt feels so hard to escape
Student loans are often spread across different services, rates, and types, federal, private, subsidized, unsubsidized. That fragmentation makes it hard to see the big picture.
On top of that, interest compounds slowly but relentlessly. If you’re only making minimum payments, you might be in debt for 20+ years and pay thousands more in interest than you borrowed.
That’s why this calculator is designed to give you clarity, not what the lender says you owe, but what it would take to end it on your terms.
FAQs about student loan payoff
Can I use this calculator for any type of loan?
Yes. This multiple loan calculator works for any loan with a balance and interest rate. Enter all of your loans individually and calculate.
What if I can’t afford the monthly payment it shows?
Try extending the number of years or removing extra loans to see how that affects things. You may also want to explore income-based repayment (IBR) plans or refinance options.
Does this show how much interest I’ll pay over time?
Yes. After calculating, you’ll see your total loan balance, total interest, and total payment amount.
Can I use this to compare payoff strategies?
Definitely. Try adjusting the number of years or using different loan combinations to explore different scenarios.
The danger of staying in student loan debt too long
The longer your loans drag on, the more you’ll pay in interest, and the more they limit your ability to move forward financially.
Whether it’s buying a house, starting a family, or investing for retirement, student loans can quietly delay big life goals. Even small extra payments or a faster payoff plan can save you thousands and shave years off your timeline.
This tool helps you take control and stop drifting. It shows you what it would take, then you decide what you can handle.