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The average college graduate leaves school with $30,000-$35,000 in student loan debt. The standard 10-year repayment plan means a decade of monthly payments. But extra payments can cut years off your timeline and save thousands in interest.
Enter your student loans and see when you are free.
Open Debt Payoff Calculator →| Loan | Balance | APR | Minimum |
|---|---|---|---|
| Federal subsidized | $12,000 | 4.99% | $130/mo |
| Federal unsubsidized | $15,000 | 5.50% | $165/mo |
| Private loan | $8,000 | 7.90% | $100/mo |
Total: $35,000. Minimums: $395/month.
| Strategy | Payoff time | Total interest | Interest saved |
|---|---|---|---|
| Minimums only | 10 years | ~$12,400 | -- |
| +$150/mo avalanche | 7 years | ~$8,200 | ~$4,200 |
| +$300/mo avalanche | 5.3 years | ~$5,800 | ~$6,600 |
| +$500/mo avalanche | 3.8 years | ~$4,000 | ~$8,400 |
With $300 extra per month you cut 4.7 years off the timeline and save $6,600 in interest.
Refinancing replaces your current loans with a new private loan at a lower rate. It works if your credit score improved since school (740+ gets the best rates) and you do not need federal protections like IDR or PSLF.
Refinancing federal loans into private loans means losing access to forgiveness programs. If you work in public service or your income is unstable, keep federal loans federal.
On a standard 10-year plan with $35,000 at 5.5%, you pay about $12,400 in interest. That is 35% of the original balance. Every dollar of extra payment chips away at that. Even $50/month extra saves roughly $2,000 and pays off loans 14 months early.
See your exact student loan payoff date.
Open Debt Payoff Calculator →