Accelerated Debt Payoff Calculator

See how extra payments can reduce payoff time and total interest using the avalanche method.

  • Methods explained
  • Save scenarios
  • Compare saved scenarios

Your Debts

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Extra Payment

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Extra payments will be applied to the highest interest debt first (avalanche method).

Payoff Comparison

Minimum Payments Only

Payoff Time58
Total Interest$6,798

With Extra Payment

Payoff Time31
Total Interest$3,426
Time Saved27
Interest Saved$3,372
How it works›

Model and assumptions. Accrues monthly interest, makes required payments and allocates the available extra budget using the selected payoff order. Freed payments roll into later debts where modeled. Rates and minimum-payment rules are held as entered; new borrowing, fees and lender changes can extend payoff.CFPB: money and debt worksheetsOpenStax: annuity formulas