This time to pay off student loan calculator helps you estimate how long it will take to repay your student loan based on your loan amount, interest rate, and monthly payments.

Loan Payoff Formula

Months to Payoff = log(Monthly Payment / (Monthly Payment – Loan Amount × Interest Rate)) / log(1 + Interest Rate)

Example Calculation

Loan Amount: $25,000, Interest Rate: 5%, Monthly Payment: $300 → Time to Pay Off = 8.33 years.

Why It Matters

Understanding your loan payoff time helps you plan your finances and adjust payments to pay off your loan faster or slower as needed.

Smart Strategy

Paying extra on your loan can shorten the repayment time significantly. Consider increasing payments if possible.

FAQs

How can I pay off my student loan faster? Increase your monthly payment, make bi-weekly payments, or make extra lump-sum payments whenever possible.

Does interest compound? Yes, interest on most student loans compounds over time, which can extend the repayment period if payments are low.

Student Loan Payoff Calculator