Student Loan Payoff Calculator

With most lenders, yes — but confirm with yours, and explicitly mark any extra payment as 'apply to principal' if the option exists, since some lenders default to applying it toward future EMIs instead, which doesn't speed up payoff the same way.

It generally depends on comparing your loan's interest rate to a realistic expected investment return — a low-rate loan is often worth carrying while investing extra cash, while a high-rate loan is harder to beat with typical investment returns. Also weigh the Section 80E interest deduction, which reduces the loan's effective cost under the old regime.

The balance will grow instead of shrink — this calculator will show an unusually high months-to-payoff figure (or cap out) in that scenario, a sign your payment needs to increase to make real progress.