Student Loan Payoff Calculator
See your debt-free date. Pick avalanche or snowball. Then see if PSLF beats paying it off.
Your debt-free date
September 2034
That's 7 years, 10 months from now with the avalanche plan. You'd pay $65,421 in interest.
- You pay each month
- $3,119
- Interest
- $65,421
- Total you'd pay
- $292,421
Compared with minimum payments only, you save $21,803 in interest and finish 2 years, 2 months sooner.
Avalanche vs. snowball
| Avalanche | Snowball | |
|---|---|---|
| Debt-free | Sep 2034 | Oct 2034 |
| Interest | $65,421 | $67,558 |
| First loan gone | Nov 2028 | Jul 2028 |
Avalanche saves $2,137 in interest. Snowball knocks out your first loan 4 months sooner.
If you refinanced
Refinancing federal loans turns them into private loans. You'd lose PSLF, income-driven plans, and other federal protections for good.
An estimate from the numbers you put in, not financial advice. Your numbers stay on your device. Nothing is saved or sent.
What you owe, year by year
- Your plan
- Minimum payments only
- PSLF
Hover or tap the chart to see any year. The full numbers are in the schedule below.
Your payoff order
Avalanche: highest interest rate first
- Private loan8% · $15,000 Paid off Nov 20282 years
- Grad PLUS loan7.5% · $80,000 Paid off Dec 20326 years, 1 month
- Med school loan6.5% · $120,000 Paid off Aug 20347 years, 9 months
- Undergrad loan4.5% · $12,000 Paid off Sep 20347 years, 10 months
When a loan is gone, its payment rolls into the next one. That's what speeds things up.
Pay it off or go for PSLF?
PSLF could save you about $84,000 compared with paying it all off.
Pay it all off
Avalanche, $3,119 a month
- Done
- Sep 2034
- Forgiven
- $0
- Total you pay
- $292,421
PSLF
IBR on federal loans, 120 more payments
- Done
- Nov 2036
- Forgiven, tax-free
- $157,673
- Total you pay
- $208,366
Your federal payment starts at $384 a month and goes to about $2,301 once your attending income shows up on your taxes.
PSLF payments, year by year
| Year | Income used | Payment | Paid | Federal balance |
|---|
On the PSLF side, your extra goes to private loans only. Extra on federal loans just shrinks what would be forgiven. Totals add up every dollar you'd pay. They don't count what that money could earn somewhere else.
Want the whole plan? My free Doctor's Money Protocol shows where student loans fit among your 10 money moves, in the right order.
Payoff schedule
| Year | Paid | Interest | Balance |
|---|---|---|---|
| Start | $227,000 | ||
| 1 | $37,423 | $14,809 | $204,387 |
| 2 | $37,423 | $13,140 | $180,104 |
| 3 | $37,423 | $11,365 | $154,046 |
| 4 | $37,423 | $9,483 | $126,106 |
| 5 | $37,423 | $7,463 | $96,146 |
| 6 | $37,423 | $5,296 | $64,019 |
| 7 | $37,423 | $3,053 | $29,649 |
| 8 | $30,461 | $813 | $0 |
How to use it
- Add each loan. Your servicer's site or StudentAid.gov has the balance and rate.
- Leave the payment blank to use a 10-year payment. Or type what you really pay.
- Pick avalanche or snowball. Add any extra you can put toward your loans each month.
- Work at a nonprofit or government hospital? Fill in the PSLF check to see if forgiveness beats paying it off.
- Want to save your plan? Use Copy a link. The link keeps your numbers.
Avalanche or snowball?
Both work. Both send every extra dollar to one loan at a time. When that loan is gone, its payment rolls into the next one. The only difference is the order.
- Avalanche goes after the highest interest rate first. It's the most mathematically effective. You pay the least interest.
- Snowball goes after the smallest balance first. It's the most motivational. You get quick wins, and those wins keep you going.
The best plan is the one you'll stick with. Run both above and look at the gap. It's often smaller than people think.
How PSLF works
Public Service Loan Forgiveness wipes out what's left on your federal loans after 120 qualifying payments. You need all four:
- The right employer. A full-time job at a nonprofit or government employer. Most residencies count. Check yours with the PSLF Help Tool.
- The right loans. Federal Direct loans. Older FFEL or Perkins loans have to be consolidated into a Direct loan first.
- The right plan. IBR, RAP, or the 10-year Standard plan. PAYE and ICR still count through June 30, 2028.
- 120 payments. On time and in full. They don't have to be in a row.
What's forgiven through PSLF isn't taxed as income by the IRS.
Why residency matters so much
Your PSLF payment is based on your income. In residency, that's small. Every resident payment counts toward the 120, even when it's only a few hundred dollars.
Payments are based on last year's tax return. So your first year as an attending is often still billed on resident pay. That's how PSLF ends up worth six figures for a lot of doctors who train at nonprofit hospitals.
Going for PSLF? Don't pay extra on federal loans.
Every extra dollar on a federal loan just shrinks the amount that would have been forgiven. Pay what your plan asks. Put the extra toward private loans, your emergency fund, or investing. The PSLF side of the calculator does this for you.
What changed in 2026
- A new plan, the Repayment Assistance Plan (RAP), opened July 1, 2026. You pay 1% to 10% of your income, minus $50 a month for each dependent you claim, like your kids. Interest your payment doesn't cover is waived.
- IBR stays. You no longer need to show a "financial hardship" to get on it.
- Took out a federal loan on or after July 1, 2026? RAP is your only plan that counts for PSLF.
- The SAVE plan is gone. If you were on it, switch to a plan that counts for PSLF.
- Forgiveness at the end of an income-driven plan (after 20 to 30 years) is taxed as income again starting in 2026. PSLF forgiveness still isn't.
Thinking about refinancing?
A lower rate can save real money on private loans. Try it with the Refinance rate box. But refinancing federal loans turns them into private loans. You lose PSLF, income-driven plans, and other federal protections for good. If PSLF is on the table, run the numbers first.
How this calculator works
- Interest is charged each month at your yearly rate divided by 12.
- PSLF uses the 2026 rules and the 2026 poverty line for the lower 48 states. It assumes you stay on one plan, make every payment on time, and get the raise you pick each year.
- Federal loans are treated as one balance at their average rate. Your spouse's loans aren't included.
- It shows the plan, IBR or RAP, that costs you less over your PSLF years.
It's an estimate, not advice. Check your plan and your payment count at StudentAid.gov.
Your plan only works if you can keep working
PSLF takes 120 paychecks. Paying off $200,000 takes years of them too. If you got sick or hurt and couldn't practice, the payments keep coming. Federal loans are only wiped out if you can't work at all. See what your plan at work would really pay with the disability insurance calculator.
Want the whole plan?
See where student loans fit in my free Doctor's Money Protocol. Not sure where you are? Take the 1-minute Money Workup.