How this payoff estimate works
The calculator applies one-twelfth of the annual rate to the remaining balance each month, adds the interest charge, then subtracts your payment. Actual lender calculations, compounding, fees, changing rates, and payment timing can produce different results.
How to shorten the payoff
Even a modest payment increase can reduce both time and interest because more principal disappears earlier. Before increasing payments, keep enough cash for essential bills and a basic emergency buffer so a surprise does not go back onto the debt.
Snowball or avalanche?
The avalanche method targets the highest interest rate first and generally minimizes interest. The snowball method targets the smallest balance first and may create faster motivational wins. The best plan is one you can follow consistently while making every required minimum payment.