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Finance

Multi-Loan Payoff Strategy Simulator

Simulate paying off multiple student loans or credit cards. See exactly how much time and interest you save using the Avalanche vs Snowball methods.

Multi-Loan Payoff Simulator

Compare Avalanche vs Snowball payoff strategies instantly.

Your Loans

How much extra can you put towards your debt every month on top of the minimums?

$

Enter values in your preferred currency. Results are returned in the same currency.

Disclaimer: This calculator provides estimates for informational and educational purposes only. It is not a substitute for professional financial advice, tax planning, or investment guidance. Always consult a qualified financial advisor or accountant for decisions affecting your finances.

Sources: Uses standard reducing-balance amortization formula. Monthly payment computed via P×r×(1+r)^n / ((1+r)^n−1).

FAQ

Frequently asked questions

What is the Avalanche method?
The Avalanche method involves making the minimum payments on all your loans, and putting every extra dollar you have towards the loan with the highest interest rate. Mathematically, this saves you the most money on interest.
What is the Snowball method?
The Snowball method involves putting your extra money towards the loan with the smallest balance, regardless of interest rate. While it costs slightly more in total interest, it gives you quick psychological 'wins' by eliminating individual loans faster.
Why do I need to input my minimum payments?
Your minimum payments are strictly required every month. The calculator needs them to ensure you are meeting your baseline obligations before it applies your 'Extra Monthly Payment' to the targeted loan.
Does this work for credit cards?
Yes! While designed for student loans, this math applies perfectly to credit cards, auto loans, and personal loans.
Methodology, assumptions & limitations

How we calculate: This calculator uses standard, peer-reviewed mathematical formulas implemented in TypeScript. All calculations run entirely in your browser — no data is sent to any server.

Assumptions: Unless stated otherwise, calculations assume constant rates over the specified period, no taxes or fees beyond those explicitly input, and standard compounding conventions for the formula type.

Limitations: Results are estimates for planning purposes. Real-world outcomes may differ due to variable rates, regulatory changes, taxes, fees, inflation, or other factors not modeled. This tool does not constitute financial, tax, or investment advice.

When NOT to use this: Do not rely solely on this calculator for major financial decisions such as mortgages, retirement planning, or tax filing without consulting a qualified financial advisor or accountant.

Feedback: Found an error or have a suggestion? Contact us — we review and correct reported issues within 48 hours.

Deep Dive Guide

The Ultimate Guide to Student Loan Payoff Strategies: Avalanche vs. Snowball

Discover the mathematically optimal way to pay off multiple student loans. Compare the Debt Avalanche and Debt Snowball methods to save thousands in interest.

Read Full Guide

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