$72,000 Student Loan Payoff Time

How long will it take to pay off $72,000 in student debt? Pay off 72k student debt.
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With a monthly payment of $1,300, you will pay off your student debt in 5 years, 2 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 $72,000 in Student Debt
Based on monthly payment and interest rate.
Rate $500 $1,000 $1,500 $2,000 $2,500
2.00% 14 years 6 years 4 years 38 months 30 months
3.00% 15 years 7 years 4 years 38 months 30 months
4.00% 16 years 7 years 4 years 39 months 31 months
5.00% 18 years 7 years 5 years 40 months 31 months
6.00% 21 years 8 years 5 years 40 months 32 months
7.00% 26 years 8 years 5 years 41 months 32 months
8.00% 40 years 8 years 5 years 42 months 33 months
9.00% never 9 years 5 years 43 months 33 months
10.00% never 9 years 5 years 43 months 34 months