Student Loan Debt Payoff Calculator

Student loan debt averages $37,000 per borrower in the US. Federal student loans typically have lower interest rates than private loans. Understanding your repayment options and making extra payments can save tens of thousands over the life of the loan.

Avg Balance: $37,000Typical Rates: 4-8% (federal), 3-15% (private)Avg Min Payment: $400/mo

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Tips for Paying Off Student Loan Debt

  1. 1

    Check if you qualify for income-driven repayment (IDR) plans for federal loans

  2. 2

    Look into Public Service Loan Forgiveness (PSLF) if you work for government or nonprofits

  3. 3

    Refinancing private loans can lower your rate if your credit has improved

  4. 4

    Make biweekly payments instead of monthly - you will make 13 months of payments per year

  5. 5

    Target any extra payments to the highest-interest loan first

Other Debt Payoff Calculators

Credit Card Debt

15-28% APR

Car Loan

4-10% APR

Medical Debt

0% (payment plans) to 10%+ (if sent to collections)

Personal Loan

6-36% APR

Mortgage

5.5-7.5% (2025-2026 rates)

Payday Loan

300-500% effective APR

Buy Now Pay Later (BNPL)

0% (on-time) to 25-30% (late/deferred)

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