Runs in your browser · Last updated 7 September 2026
Free Student Loan Extra Payment Calculator
Free student loan extra payment calculator. Extra principal on the current note — months and interest saved. Not IDR or a refinance. Browser tool — nothing is uploaded.
Fixed-rate remaining term. Extra principal on the current note — not IDR and not a refinance. Extra payments on federal loans usually do not change the scheduled bill; ask the servicer to apply them to principal.
Scheduled payment
$397.42
Payoff with extra
89 months
Months saved
31
Interest paid
$9,186.19
Interest saved
$3,503.97
Total paid
$44,186.19
How to use this tool
- Enter remaining balance, APR, and months left.
- Add the extra principal you can send every month.
- Read months saved and interest saved versus paying the bill only.
Worked example
$35,000 left at 6.5% for 120 months is about $398/month. An extra $100 toward principal cuts more than a year and a meaningful slice of interest. If you are comparing RAP or IBR instead, use the 2026 IDR calculator.
Frequently asked questions
- Is this IDR or a refinance?
- No. Extra principal on the fixed-rate note you already have. For RAP / IBR use the 2026 IDR page. For a new private rate, use the refinance page — you give up IDR and PSLF.
- Do extra payments lower my monthly bill?
- Usually no. The scheduled payment stays; the term shortens. Ask the servicer to apply extras to principal, not to the next installment.
- Federal vs private?
- The amortization is the same. Federal loans may still have IDR, deferment, and forgiveness you lose if you refinance privately.
- Uploaded?
- No.