Best Student Loan Repayment Tools to Save You Money

Student loans are one of the biggest financial burdens for millions of Americans. Whether you’re just graduating, in the middle of repayment, or struggling to keep up with monthly bills, finding the right strategy can mean the difference between paying off your debt quickly or staying in repayment for decades.

Thankfully, there’s good news: technology has made student loan repayment easier than ever. There are now dozens of apps, calculators, and online tools designed specifically to help borrowers understand their repayment options, track progress, and even save money on interest.

From budgeting apps that keep you on track to federal repayment calculators that show the cheapest payment plan for your situation, these tools take the guesswork out of managing student loans. In this guide, we’ll cover the best student loan repayment tools available today, how to use them effectively, and strategies for getting the most out of each one.

Why You Should Use a Student Loan Repayment Tool

If you’re making loan payments without a plan, you might be paying more than necessary. Student loan repayment tools can help you:

• Identify the best repayment plan based on your income, loan balance, and goals.

• Estimate your payoff date so you can plan your financial future.

• See how extra payments impact your debt and interest savings.

• Track progress toward forgiveness programs like Public Service Loan Forgiveness (PSLF).

• Avoid missed payments by keeping all your loans and payment schedules in one place.

With interest rates on federal student loans currently ranging from around 5% to 8% and private loans often higher, every dollar you save on interest matters.

Factors to Consider When Choosing a Student Loan Repayment Tool

Not every tool is right for every borrower. Before choosing one, think about:

• Your loan type – Federal, private, or both.

• Your repayment goal – Fast payoff, lower monthly payments, or forgiveness eligibility.

• Ease of use – Simple dashboards and automated tracking make repayment easier.

• Cost – Many tools are free, but some premium ones offer extra features worth paying for.

• Integration – Can it connect to your loan servicer or bank accounts?

Best Student Loan Repayment Tools to Save You Money

1. Federal Student Aid Loan Simulator

Overview: Provided by the U.S. Department of Education, the Loan Simulator helps federal loan borrowers find the most affordable repayment plan.

Key Features:

• Compares repayment options like Standard, Graduated, and Income-Driven Repayment (IDR) plans.

• Estimates monthly payments and total interest costs.

• Helps you see how extra payments or forgiveness programs affect your timeline.

• No cost and no account required.

Best For: Borrowers with federal student loans who want a clear, official breakdown of their options.

2. Undebt.it

Overview: A free debt payoff planner that works for all types of loans, including student loans.

Key Features:

• Offers debt snowball and avalanche payoff strategies.

• Tracks your payoff progress visually.

• Allows you to set custom repayment goals.

• Completely free with optional premium features.

Best For: Visual learners who want motivation and progress tracking as they pay down their loans.

3. ChangEd

Overview: ChangEd links to your bank account and rounds up your everyday purchases to put toward your student loans.

Key Features:

• Automates extra payments without you noticing.

• Works for federal and private loans.

• Helps you pay down loans faster without making huge lifestyle changes.

• Low monthly subscription fee.

Best For: People who struggle to make extra payments manually but want to speed up repayment.

4. Student Loan Hero

Overview: Owned by LendingTree, Student Loan Hero offers calculators and resources to find the best repayment strategy.

Key Features:

• Free student loan payoff calculator.

• In-depth articles on refinancing, forgiveness, and repayment plans.

• Personalized repayment strategy suggestions.

• No account required to use tools.

Best For: Borrowers who want both calculation tools and educational content in one place.

5. Credible Student Loan Refinancing Tool

Overview: Compares refinancing offers from multiple lenders so you can potentially lower your interest rate.

Key Features:

• Soft credit check for initial rate quotes.

• Side-by-side comparison of interest rates and terms.

• Works with top private lenders.

• Can save thousands over the life of your loan if you qualify for a lower rate.

Best For: Borrowers with good credit who want to refinance for lower interest rates.

6. Mint

Overview: While not a dedicated student loan tool, Mint helps you manage your overall budget so you can free up money for extra loan payments.

Key Features:

• Tracks income, expenses, and debt in one dashboard.

• Sets payment reminders to avoid late fees.

• Helps you find areas in your budget to cut spending.

• Completely free.

Best For: People who want to combine loan repayment tracking with overall money management.

7. Savvy Student Loan Payoff Planner

Overview: A mobile app designed specifically for student loan borrowers who want a clear repayment roadmap.

Key Features:

• Shows how different payment strategies affect payoff date.

• Tracks progress toward forgiveness programs.

• Calculates how much interest you’ll save with extra payments.

• Easy-to-read charts and graphs.

Best For: Borrowers who want a simple, mobile-friendly repayment planner.

Strategies for Maximizing the Benefits of These Tools

Using a repayment tool is only the first step—how you use it makes all the difference. Here are some tips to get the most out of these resources:

1. Update your information regularly – If your income, expenses, or loan terms change, update your repayment tool so it stays accurate.

2. Experiment with different repayment strategies – Test snowball, avalanche, and hybrid approaches to see which fits best.

3. Use extra cash strategically – Apply tax refunds, bonuses, or side hustle income to your highest-interest loan.

4. Track forgiveness eligibility – If you’re pursuing PSLF or other programs, ensure you’re meeting requirements.

5. Avoid lifestyle inflation – Keep your expenses steady so extra funds can go toward loans.

Common Mistakes Borrowers Make With Student Loan Repayment Tools

Even with the best tools, mistakes can slow down your progress:

• Ignoring private loans – Many people focus only on federal loans, but private loans can often be refinanced for big savings.

• Not checking refinancing offers regularly – Interest rates change; what wasn’t a good deal last year might be now.

• Relying solely on autopay – While autopay prevents missed payments, you may miss opportunities to make strategic extra payments.

• Failing to plan for interest capitalization – Especially important for income-driven repayment plans.

Final Thoughts: Technology Is Your Ally in Student Loan Repayment

Paying off student loans can feel overwhelming, but the right repayment tools give you control. Whether you’re looking to lower monthly payments, refinance to save on interest, or create a detailed payoff plan, there’s a tool that can help you reach your goals faster.

Start by exploring one or two tools from this list, run your numbers, and commit to a repayment strategy. Small, consistent actions—especially when automated—can help you pay off your student loans years earlier and save thousands of dollars in interest.