Student Loan Prepayment Calculator
This is one of DollarGeek's most popular calculators. Have some extra cash? Did you just get that promotion, or some new money? See if adding to your current student loan payment makes sense. Get out of debt quicker and get one step closer to financial freedom.
FAQs: Student Loan Prepayment Calculator
The Best Student Loan Rates of 2018.
DollarGeek has done the work for you. We’ve sorted through the best student loan lenders and made refinancing your student loan simple. Don’t take the passive approach, start saving thousands by refinancing your student loan today.
*Rates are shown with 0.25% AutoPay discount.
Alright, what does the Student Loan Prepayment Calculator tell me? Why should I care?
Good question. Our student loan prepayment calculator can tell you if adding to your current student loan monthly payments is actually worth it. We get it, your money can go to a lot of places, but, you should see how your savings can stack up if you add to your existing monthly payment. We just show you the numbers, the choice is yours. See if if makes sense.
If I prepay my student loan, whether it's federal or private, will I be penalized?
Nope! Never. It doesn’t matter if you have federal student loans or private student loans, you will not get penalized for paying ahead of time.