Student Loan Payoff
Even a modest extra payment each month goes straight to principal, which can shorten your payoff date and lower the total interest. Enter your loan details to compare paying as usual with paying a little more.
About these numbers
Assumes a fixed interest rate, the same payment every month, interest charged monthly, and extra payments applied to principal. It does not model income-driven repayment, deferment, forgiveness programs, or rate changes. Federal loans may offer options that a simple payoff comparison does not capture.
This calculator is a hypothetical illustration for educational purposes only. Results are based on the assumptions you enter and the method described above, may vary with each use and over time, do not reflect any specific investment or the deduction of fees or taxes unless stated, and are not a guarantee of future results. The tool does not consider every investment, account type, or strategy that may be available to you. It is not investment, tax, or legal advice. Investing involves risk, including possible loss of principal. 4:8 Financial does not provide tax or legal advice; please consult your CPA or attorney regarding your specific situation.
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