Student Loan Payoff Calculator — Avalanche vs Snowball

How to plan your student loan payoff

List every loan. Name, balance, rate, and minimum payment — add rows as needed.
Set your extra. What can you throw at debt each month beyond minimums?
Pick a strategy. Avalanche for least interest, snowball for fastest wins.
Press Calculate. Debt-free date, total interest, both strategies compared, and your payoff order.

Frequently asked questions

Avalanche or snowball: which is better?

Avalanche always costs less in interest. Snowball wins on psychology — clearing a whole loan fast keeps people going. This calculator shows both so you can choose with numbers.

Should I include federal loans here?

Yes for the math, but remember federal loans carry forbearance, income-driven plans, and forgiveness options this calculator doesn't model.

What if my minimum doesn't cover the interest?

Then the balance grows forever. The calculator flags it — you need a higher payment or a different plan (consolidation, income-driven).

Does extra money really matter that much?

Enormously on high-rate loans: an extra $150/month can cut years and thousands in interest. The comparison table shows it.

Should I pay loans or save first?

Keep a small emergency buffer first, then attack high-rate debt — its 'return' is guaranteed and tax-free.

Is this financial advice?

No. Planning estimates only.

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