PayoffCompare

Debt payoff planner

See which payoff strategy actually saves you the most.

Enter your loans. Compare Avalanche, Snowball, and Hybrid side by side. Get a clear timeline, total interest cost, and the date you become debt free under each plan.

Start comparing See an example
  • Works entirely in your browser
  • No signup, no data sent anywhere
  • Handles up to 8 debts at once

Your debts

$

Any amount above total minimums that you can add each month.

$

Hybrid pays off any balance at or below this amount first, then switches to highest rate.

Debt name Balance Rate (APR) Min payment  
3 of 8

Results

Add at least one debt

Enter a balance, rate, and minimum payment to see how each strategy compares.

How this comparer works

1

Enter your debts

Add each loan or balance. Use the name your servicer shows so you can track it. Put in the current balance, the annual interest rate, and the minimum monthly payment.

2

Add any extra payment

This is the amount you can pay above the total of your minimums. Even 50 or 100 dollars a month can cut years off your payoff. Try different amounts to see the impact.

3

Compare the three plans

The results panel shows Avalanche, Snowball, and Hybrid side by side. Pick the one that fits your budget and your motivation style.

4

Save or print your plan

Your scenario saves in your browser so you can come back. You can also export a text file or print a clean schedule to keep on the fridge.

Three real-world scenarios

These examples show how the strategies behave with different debt profiles. You can load the student loan sample from the comparer.

Recent graduate, six federal loans

Total balance: $38,000. Rates from 3.5% to 6.8%. Minimums total $410.

  • Avalanche saves about $1,400 in interest over Snowball.
  • Snowball clears the first small loan in month 9.
  • Hybrid clears that same small loan first, then follows Avalanche.

With an extra $200 a month, payoff drops from 10 years to under 6.

Career changer, two private loans

Total balance: $22,000. Rates at 5.2% and 9.4%. Minimums total $380.

  • Avalanche targets the 9.4% loan first.
  • Snowball targets the smaller balance first, even though its rate is lower.
  • Hybrid behaves like Snowball here because the small balance is under threshold.

The interest gap between Avalanche and Snowball is about $780 over the full payoff.

Parent PLUS borrower, single large loan

Balance: $61,000 at 7.9%. Minimum $680.

  • With only one loan, all three strategies behave the same.
  • Adding $300 extra saves over $14,000 in interest.
  • Payoff drops from 12 years to under 7.

This shows why the extra payment field matters as much as the strategy choice.

Common mistakes people make when choosing a payoff plan

Picking a method based on a headline

Blog posts often say "always use Avalanche" or "Snowball is the only way." The right answer depends on your specific balances and rates. This comparer shows the real numbers so you can skip the guesswork.

Ignoring small balances

A $300 medical bill at 0% interest feels like nothing. But it is one less payment to track each month. Snowball and Hybrid both handle this well. Removing a debt from your list can keep you from missing a due date.

Not adding any extra payment

Minimum payments are designed to keep you in debt longer. Even a small extra amount each month changes the timeline a lot. Try the slider in the comparer to see how $50, $100, or $200 changes your payoff date.

Forgetting about servicers

Extra payments do not always go where you think. Some servicers apply them to future payments instead of principal. Log in after your first extra payment and check that the balance dropped. If not, call and ask how to direct extra payments to principal.

Assumptions and limits of this comparer

This planner uses a few fixed rules so the math stays clear. Knowing them helps you trust the results and spot when you need a more detailed plan.

If your loans have variable rates or you expect a large change in income, run the comparer again with updated numbers. That is the best way to keep your plan realistic.

Frequently asked questions

Which strategy saves the most money?
In most cases, Avalanche saves the most because it attacks the highest interest rate first. But the gap is sometimes smaller than people expect. This comparer shows the exact difference for your loans.
Why would I pick Snowball if it costs more?
Because motivation matters. If seeing a debt disappear keeps you paying extra every month, that small interest cost may be worth it. A plan you stick with beats a plan you quit.
What does the Hybrid strategy actually do?
It pays off any balance at or below your threshold first, then switches to the highest interest rate. It tries to give you one early win without giving up much interest. You can change the threshold in the comparer.
Can I use this for credit cards?
Yes. Any fixed-rate debt with a minimum payment works. Enter the balance, the APR, and the minimum. The math is the same.
What if I have a 0% interest loan?
Enter 0 in the rate field. The calculator treats it as interest-free. With Snowball it may get paid early. With Avalanche it waits until higher-rate loans are done.
Where is my data stored?
Everything stays in your browser. We do not send your numbers anywhere. Clear your browser data to remove saved scenarios.
How do I share my plan with a partner or advisor?
Use the Export button to download a text file. You can also use the Print button to get a clean schedule. Both include the full timeline and totals.
What if my servicer offers a different payoff date?
Servicers may use slightly different interest calculations or apply payments on different days. Use this comparer as a planning guide, not a legal statement. Always confirm with your servicer before making financial decisions.

What to double-check before you act

Before you start sending extra payments, take these five steps. They take about 20 minutes and can save you real money.

  1. Log in to each servicer and confirm your current balance and interest rate.
  2. Check whether your servicer charges prepayment penalties (most federal loans do not).
  3. Confirm how extra payments are applied. Call or check the website if you are not sure.
  4. Make sure your emergency fund can cover at least one month of expenses before you add extra payments.
  5. Set a calendar reminder to revisit this comparer every six months or after any major change in income.

Last updated 2026. This page is for planning and education only. It does not give financial advice. Numbers are estimates based on the inputs you provide. Always confirm with a qualified professional or your loan servicer before making financial decisions.