Geeky Tools:

Student Loan Prepayment Calculator

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Check out our Student Loan Term Comparison Calculator, it's one of our most used calculators. This calculator will show you your payment structure through different lengths of years. Not quite sure if you should make your student loan term 10, 15 or 20 years? Want to see how your interest rate effects your payments through the years? This calculator will show you how the duration of your loan and interest rate really makes a difference. Enter in some quick numbers and make a wise decision.

First enter some quick info
My current loan balance is…
$
My interest rate is…
%
My monthly payment is…
$
Add to your payment by
$
Want to see if adding to
your student loan payment is worth it?

Use our prepayment calculator and see how much you can save.

Need more savings? See if refinancing can offer you more.

The Best Student Loan Rates of 2020.

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.

Showing 1-7 of 7 accounts Advertising disclosure
OVERALL RATING:
(5)
on College Ave's website

Variable Rate

2.94% - 7.74%

varies on credit

Fixed Rate

2.99% - 7.84%

varies on credit

Variable Rate

2.94% - 7.74%

Fixed Rate

2.99% - 7.84%

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OVERALL RATING:
(4.5)
on CommonBond's website

Variable Rate

1.99% - 5.61%

varies on credit

Fixed Rate

2.98% - 5.79%

varies on credit

Variable Rate

1.99% - 5.61%

Fixed Rate

2.98% - 5.79%

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OVERALL RATING:
(4.5)
on Earnest’s website

Variable Rate

1.88% - 5.64%

varies on credit

Fixed Rate

2.50% – 5.79%

varies on credit

Variable Rate

1.88% - 5.64%

Fixed Rate

2.50% – 5.79%

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OVERALL RATING:
(5)
on LendKey's website

Variable Rate

1.98% - 8.55%

varies on credit

Fixed Rate

2.99% - 8.77%

varies on credit

Variable Rate

1.98% - 8.55%

Fixed Rate

2.99% - 8.77%

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OVERALL RATING:
(4.5)
on Splash's website

Variable Rate

1.98% - 7.10%

varies on credit

Fixed Rate

2.88% - 727%

varies on credit

Variable Rate

1.98% - 7.10%

Fixed Rate

2.88% - 727%

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OVERALL RATING:
(4.5)
on SoFi's website

Variable Rate

2.24% - 6.39%

varies on credit

Fixed Rate

2.74% - 6.74%

varies on credit

Variable Rate

2.24% - 6.39%

Fixed Rate

2.74% - 6.74%

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OVERALL RATING:
(4.5)
on PenFed's website

Variable Rate

2.99%-5.15%

varies on credit

Fixed Rate

2.25%-4.61%

varies on credit

Variable Rate

2.99%-5.15%

Fixed Rate

2.25%-4.61%

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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.