Cover the interest
Your payment must exceed monthly interest before the balance can begin falling.
Free debt tool
Debt payoff calculator
Estimate your payoff timeline and see how even a modest extra payment may reduce interest and shorten repayment.
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This model assumes a fixed interest rate, no new charges, and the same payment every month.
Estimated payoff time3 yr 5 mo
Total interest$3,575
Total repaid$12,075
Time saved with extra11 months
Interest saved$1,005
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Results are estimates for education only. Creditors may calculate interest differently, and fees or new transactions can change your payoff date.
Extra payments compound
Reducing principal sooner may lower the interest charged in future months.
Avoid adding debt
New purchases or fees can extend the payoff timeline even when payments remain consistent.