When will you
pay off your
student loans?
Making payments on your student loans can seem endless. And with high interest rates, the day you finally pay off your debt might be farther away than you think. Use this calculator to get an idea of when your loan payoff date will be—and ways to make that date not so far away afterall.
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Find out your
payoff date
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YOUR PAYOFF DATE:
Month
Year
2018
Did you know?
Make your student
debt go away faster.
Learn morestart over
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Don’t wait to pay off
your student loans.
A shorter term can help you get out of debt and on with your life even sooner than you thought.
Low interest rates
SoFi’s fixed rates start at 5.24% APR, and variable rates start at 6.24% APR when you enroll in AutoPay.1
Fast, easy, and all online
Get pre-qualified online in just two minutes. Then, select your rate and term, verify your info, and sign.
No hidden fees,
no catch
No application or origination fees. No pre-payment penalties.
Shorter terms
With shorter loan terms, you might be able to refinance at a lower interest rate—and pay back your student debt a lot faster.
Even more ways to ditch
your student debt.
Set up AutoPay.1
SoFi, along with many other student loan servicers, will give you a lower rate on your loan when you set up autopay. This is also a great way to make sure you never miss a payment.
Work with your
employer.
There's a new ally in student debt repayment: your employer. Companies today may offer employee benefits that include matching student loan contributions and refinancing options, to help you can get out of debt-faster.
Prepay your loan.
By paying more than the minimum payment towards your principal each month, you can get ahead on your payment schedule and lower the total amount of interest accrued on your loan.
Pay off your
student loans
sooner.
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*NOTICE: If you are a federal student loan borrower, you should consider all of your repayment opportunities including the opportunity to refinance your student loan debt at a lower APR or to extend your term to achieve a lower monthly payment. Please note that once you refinance federal student loans you will no longer be eligible for current or future flexible payment options available to federal loan borrowers, including but not limited to income-based repayment plans or extended repayment plans.
Financial Tips & Strategies: The tips provided on this website are of a general nature and do not take into account your specific objectives, financial situation, and needs. You should always consider their appropriateness given your own circ*mstances.
Terms and Conditions Apply. SOFI RESERVES THE RIGHT TO MODIFY OR DISCONTINUE PRODUCTS AND BENEFITS AT ANY TIME WITHOUT NOTICE. To qualify, a borrower must be a U.S. citizen or other eligible status, be residing in the U.S., and meet SoFi’s underwriting requirements. Not all borrowers receive the lowest rate. Lowest rates reserved for the most creditworthy borrowers. If approved, your actual rate will be within the range of rates listed above and will depend on a variety of factors, including term of loan, a responsible financial history, years of experience, income and other factors. Rates and Terms are subject to change at anytime without notice and may be subject to other restrictions. You may pay more interest over the life of the loan if you refinance with an extended term. Minimum loan amount of $5,000 unless required to be higher to comply with applicable law. SoFi refinance loans are private loans and do not have the same repayment options that the federal loan program offers, or may become available, such as Income Based Repayment or Income Contingent Repayment or PAYE. SoFi Student Loans are originated by SoFi Bank, N.A. Member FDIC. NMLS #696891 (www.nmlsconsumeraccess.org).
† To check the rates and terms you qualify for, SoFi conducts a soft credit pull that will not affect your credit score. However, if you choose a product and continue your application, we will request your full credit report from one or more consumer reporting agencies, which is considered a hard credit pull and may affect your credit.
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