Student Loan Payoff Calculator
See how long it takes to pay off student loans early — or compare payoff against PSLF and IBR side by side.
Your loan & income
Payoff timeline
8.0 years
Total interest paid
$43,000
Your total cost
$193,000
Total out of pocket over the payoff period.
What if you refinanced?
Learn how much a lower interest rate can save you
Drag the slider to a new interest rate and see how your timeline and total cost change. Same balance and monthly payment as above.
Years to payoff
7.4
Total interest
$26,459
Total cost
$176,459
We'll email you a link to come back to it any time.
How this calculator works
This tool estimates how long it takes to clear your student loans and what they cost in total, then compares paying them off against the federal forgiveness paths. It is built for physical therapists (PTs), occupational therapists (OTs), and speech-language pathologists (SLPs) carrying $100,000 to $180,000 in loans.
For an aggressive payoff it uses standard amortization from your balance, interest rate, and monthly payment. For the income-driven paths it simulates each month using the 2026 formulas: Public Service Loan Forgiveness (PSLF), Income-Based Repayment (IBR), and the Repayment Assistance Plan (RAP). RAP payments follow Adjusted Gross Income (AGI) tiers and waive unpaid interest; IBR charges 10% of discretionary income and lets unpaid interest accrue.
Worked example. A loan of $150,000 at 6.5%, refinanced to 5% with a $2,000 monthly payment, is paid off in about 7.5 years at roughly $180,227 total, of which about $30,227 is interest. Stacking income through travel or PRN shifts and raising the payment shortens that timeline.
Common questions
- Do physical therapists, OTs, and SLPs qualify for PSLF?
- Yes, if you work full time for a government or 501(c)(3) nonprofit employer. Many hospital systems, school districts, the VA, and nonprofit clinics qualify, which is why Public Service Loan Forgiveness (PSLF) is often the lowest-cost path for rehab clinicians. After 120 qualifying monthly payments, your remaining balance is forgiven tax-free. The loan math is identical for PTs, OTs, and SLPs.
- Does refinancing federal student loans cancel PSLF?
- Yes. Refinancing converts your federal loans into a new private loan, which permanently ends Public Service Loan Forgiveness (PSLF) eligibility the day it closes. This is true even if you refinance only some of your federal loans. If you are pursuing PSLF, do not refinance.
- How long does it take a physical therapist to pay off $150,000?
- Aggressively, usually 4 to 8 years. In a standard example of $150,000 refinanced to 5% with a $2,000 monthly payment, the loan clears in about 7.5 years at roughly $180,000 total cost. Higher payments from travel or PRN income shorten it.
- Is RAP or paying off your loans the better option for a therapist?
- For most therapists who are not pursuing PSLF, paying it off wins. Held to its 30-year forgiveness date, the Repayment Assistance Plan (RAP) costs about $315,000 on a $150,000 balance, roughly $135,000 more than refinancing and paying it off.
- Does this calculator use the 2026 student loan rules?
- Yes. The RAP and Income-Based Repayment (IBR) figures reflect the One Big Beautiful Bill Act (OBBB) formulas effective July 1, 2026, including RAP’s AGI-based payment tiers and the no-negative-amortization rule.