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. 

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 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.

Variable Interest Rates

2.72% - 7.25%

2.47% - 5.87%

2.51% - 8.03%

2.79% - 7.89%​

2.80% - 5.37%

Fixed Interest Rates

3.20% - 7.25%

3.89% - 6.32%

3.49% - 8.72%

3.89% - 8.17%

3.50% - 5.55%

Max Term Loan

20 Years

20 Years

20 Years

20 Years

20 Years

Origination Fee?






*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.