• Student Aid 101
  • Grants, Scholarships, and Loans
  • Your Financial Aid Offer
  • Types of Loans
  • The Basics of Loans
  • The Language of Loans
  • About Interest
  • Your Responsibilities
  • Student Loan Q&A
  • The Hidden Truths of Student Loans
  • Exit Counseling
  • Beware of "Debt Relief" Organizations
• Making Payments
  • Benefits of Paying Interest
  • Grace Period
  • Ways to Pay
  • Repayment Plans
  • Repayment Q&A
  • Loan Consolidation
  • Loan Payoff
• Trouble Paying
  • Change Your Due Date
  • Reduce Your Monthly Payments
  • Postpone Payments
  • Loan Discharge & Loan Forgiveness
  • Default
  • Bankruptcy
• Managing Money
  • The More You Learn, the More You Earn
  • How to Budget
  • How to Save
  • Know Your Credit Score
  • Credit Cards
• Calculators & Resources
  • Calculators
  • Personal Stories
  • Other Online Resources
• Student Aid Timeline
• Graduate Students
  • How to Pay for Graduate School
  • Graduate Students and Loans
• Nontraditional Students
  • What Is a Nontraditional Student?
  • The Decision to Return to School
  • The Cost of Going Back to School

Loan Payoff

Ready to make that final payment and put your student loan behind you? Here's what you need to do. It's simple:

Step 1. Obtain an official payoff amount.

Call your lender or loan servicer to find out the remaining balance on your student loan. Realize that interest accrues on your loan every day, so don't obtain your payoff amount until you are ready to pay.

Step 2. Submit your final payment promptly.

Submit your final payment online, by phone, or by mail—use the payment method that is most convenient for you.

If you do not submit your payment promptly, you may need to contact your lender or servicer again for a new payoff amount. More interest may have accrued since your last payoff inquiry.

Step 3. Celebrate!

Say goodbye to your student loan. You are done, and you should be proud.