Compare different repayment plans and see how extra payments can save you time and money
Student loans can be a significant financial burden, but understanding your repayment options can help you manage them more effectively. This calculator allows you to compare different repayment plans (standard, extended, and income-based) and see how making extra payments can reduce both the total cost and time to pay off your loans.
Enter your loan details below, adjust your income information, and see the impact of adding extra monthly payments. The visual charts will help you understand how different strategies affect your loan over time.
Pro tip: Even small extra payments can significantly reduce the total interest paid and shorten your loan term. Try different amounts to see what fits your budget.
Income details help calculate income-based repayment options. Higher income typically leads to higher monthly payments under IBR plans.
This calculator is designed to help you make informed financial decisions. The results provided are estimates based on the information you input and should be used for educational purposes only.
For personalized financial advice, please consult with a qualified financial professional. All calculations are performed in your browser, and no personal data is stored or transmitted.