The Money You Save by Paying Extra in ONLY Years 1–3 of Student Loan Repayments

How big a difference does it make paying $50/month extra for 3 years at (1) the beginning, (2) middle, or (3) end of student loan repayment? It’s huge….

Chart image created by author. Chart data analyzed by author. July 16, 2023.

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There are 3 things that account for most of the interest that people pay on their student loans:

1. Total amount of money you borrow;
2. Interest rate for your loans; and