Debt Payoff
Enter your debts, choose avalanche (highest APR first) or snowball (smallest balance first), and see exactly when you'll be free.
| x | Balance (avalanche) |
|---|---|
| Yr 0.1 | $5,790 |
| Yr 0.2 | $5,576 |
| Yr 0.3 | $5,358 |
| Yr 0.3 | $5,137 |
| Yr 0.4 | $4,911 |
| Yr 0.5 | $4,681 |
| Yr 0.6 | $4,447 |
| Yr 0.7 | $4,208 |
| Yr 0.8 | $3,965 |
| Yr 0.8 | $3,718 |
| Yr 0.9 | $3,466 |
| Yr 1.0 | $3,210 |
| Yr 1.1 | $2,949 |
| Yr 1.2 | $2,683 |
| Yr 1.3 | $2,412 |
| Yr 1.3 | $2,136 |
| Yr 1.4 | $1,855 |
| Yr 1.5 | $1,569 |
| Yr 1.6 | $1,278 |
| Yr 1.7 | $981 |
| Yr 1.8 | $679 |
| Yr 1.8 | $372 |
| Yr 1.9 | $59 |
| Yr 2.0 | $0 |
How to use this calculator
- Enter your balance and APRBoth are on your statement or in your online account.
- Enter your monthly paymentAnything above the minimum dramatically shortens the payoff.
- Read the payoff date and total interestRaise the payment to watch how much interest you save.
Every dollar of interest you avoid is a guaranteed, risk-free return. Minimum payments are built to keep you paying for years, so the real lever is paying even a little extra, which goes straight at principal and pulls your debt-free date forward.
◆ Frequently Asked Questions
Should I pay off the highest rate or the smallest balance first?
How much does paying a little extra really help?
Why do minimum payments take so long?
Where do I find my balance and rate?
Keep reading
APR vs. APY: What the Two Rates Actually Tell You
APR is the cost of borrowing; APY is the return on saving. The difference is compounding, and knowing which to use will change every rate comparison you make.
What Is Amortization?
How loan amortization works: early payments are mostly interest, extra principal payments save thousands, and negative amortization is the trap to avoid.
What Is an Interest Rate?
An interest rate is the price of borrowing money. How the Fed sets it, what moves your personal rate, and what a 1-point difference costs on a $300k mortgage.