$130,000 Student Loan Payoff Time

How long will it take to pay off $130,000 in student debt? Pay off 130k student debt.
Current Balance
$
Interest Rate
%
Monthly Payment
$
Refinance Rate
(optional)
%

Results

With a monthly payment of $1,500, you will pay off your student debt in 8 years, 11 months.

Should You Pay off Your Student Debt?

You may be able to pay off your student debt. But should you?

Some politicians in the U.S. have proposed canceling some or all student debt. You might feel foolish if you worked and saved only to have other people get their debts paid for free.

A more prudent course of action in the meantime would be to continue to make minimal payments, making sure to avoid any penalties and fees.

Time it Takes to Pay $130,000 in Student Debt
Based on monthly payment and interest rate.
Rate $500 $1,000 $1,500 $2,000 $2,500
2.00% 29 years 12 years 8 years 6 years 5 years
3.00% 35 years 13 years 8 years 6 years 5 years
4.00% 51 years 14 years 9 years 6 years 5 years
5.00% never 16 years 9 years 6 years 5 years
6.00% never 18 years 10 years 7 years 5 years
7.00% never 20 years 10 years 7 years 5 years
8.00% never 25 years 11 years 7 years 5 years
9.00% never 41 years 12 years 8 years 6 years
10.00% never never 13 years 8 years 6 years