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Student Loan Payoff Calculator

Find out how long it’ll take for you to pay off your student loans with the hassle-free student loan payoff calculator.

Providing Budgeting Options to Those Seeking Higher Education!
While Kwai does not offer Student Loans, below is an easy-to-use free online Student Loan Payoff Calculator that can help you estimate your student loan payoff date.

When Will You Pay Off Your Student Loans?

Making payments on your student loan can feel like a never-ending process. With high interest rates, the day you finally pay off your debt might be farther away than you think. So, we’re here to help with an easy-to-use free online Student Loan Payoff Calculator that will allow you to get a better idea of when your loan payoff date will be.

How to Use the Student Loan Payoff Calculator

Simply enter your loan amount, the interest rate, and your monthly payment in the fields below and an estimated payoff date will be calculated.

What Is My Student Loan Payoff Date?

Student Loan Payoff Calculator

Calculator service is provided under license from Inch Calculator. Kwai has not independently verified the calculations.
Consult with a financial advisor or check other sources before making financial decisions.

Additional Ways You Can Eliminate Your Student Loan Debt

Higher education can cost tens if not hundreds of thousands of dollars. However, student loans shouldn’t constrict your income. See how you can pay off your student loans in an efficient way!

Set Up AutoPay

Many student loan servicers will offer lower, more competitive rates when you set up autopay. This is also a great way to avoid missing payments.

Talk to Your Employer

Many companies offer employee benefits that include matching student loan contributions and refinancing options, and yours could be one of them! Talk to your employer about what benefits they offer to help you get out of debt faster.

Pay More Than the Minimum

By paying more than the minimum payment towards your principal amount every month, you can jump ahead on your payment plan and actually reduce the overall interest that accrues on your loan.
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Frequently Asked Questions

Following these steps could help you pay off your student loans faster:
  • Making extra payments above the minimum amount due.
  • Creating a budget to allocate more funds towards loan payments.
  • Considering bi-weekly payments, which can result in an extra payment each year.
  • Applying windfalls, like tax refunds or bonuses, directly to your loans.
  • Prioritizing high-interest loans to reduce overall interest costs.
Yes, you can refinance your student loans through private lenders. Refinancing involves getting a new loan with better terms to pay off your existing loans. This can lower your interest rate but may come with loss of federal benefits like income-driven repayment and loan forgiveness.
Yes, there are federal and state programs that offer loan forgiveness for specific careers, such as public service or teaching. These programs typically require a certain number of qualifying payments and working in eligible fields.
If you can’t make payments, contact your loan servicer immediately. You might be eligible for deferment, forbearance, or income-driven repayment plans to temporarily reduce or pause payments.
Paying extra reduces the principal balance faster, which results in less interest accruing over time. When paying extra, specify that the extra payment should be applied to the principal, not just the next payment.
Under certain income limits, you can deduct up to a certain amount of student loan interest from your taxable income. Consult a tax professional to understand how this could apply to your financial situation.
Federal loans are offered by the government and come with various benefits like income-driven repayment plans and loan forgiveness options. Private loans are provided by banks or lenders and usually have higher interest rates but might be an option if federal loans aren’t enough.
Loan consolidation combines multiple federal loans into a single loan with a fixed interest rate. It simplifies payments but doesn’t lower interest rates. Private loans can also be consolidated through refinancing.
Discharging student loans in bankruptcy is challenging and requires proving undue hardship, which is a stringent standard. It’s difficult but not impossible in some cases
Kwai does not provide financial advice. The content of this page is provided for general informational purposes only. Kwai does not make representations and warranties with respect to any information from this page, including Budgeting Calculator results. Consult with a financial advisor and evaluate the risks and merits before making financial decisions.
High-interest loans can be expensive and should be used only for short-term financial needs, not long-term solutions. Customers with credit difficulties should seek credit counseling.