How Long Does It Take To Pay Off Student Loans? What Borrowers Need To Know

The average time to repay student loans depends on the repayment term, loan balance, and interest rate. However, many term lengths are 10 to 25 years. According to Federal Student Aid data, there were 14.6 million borrowers in the 35 to 49-year age group out of a total of 42.7 million borrowers at the end of 2024, indicating longer repayment times.

In this guide, learn how long it takes to pay off student loans, and different repayment strategies to pay off loans faster.

Current private student loan refinance rates

How long does it take to pay off federal student loans?

The amount of time it takes to pay off federal student loans is between 10 and 25 years, based on the repayment terms the Department of Education offers. The Standard Repayment Plan has the shortest repayment term at 10 years, making it the most cost-effective. Federal loan borrowers are automatically enrolled in the Standard Repayment Plan, unless they choose another option.

The Graduated Repayment Plan also has a 10-year term, but with a different payment structure. Instead of having the same monthly payments throughout your term, your payments start out smaller and gradually go up. The Extended Repayment Plan is available to borrowers with more than $30,000 in debt, and increases the repayment term to 25 years.

Income-driven repayment plans provide the most affordable payments, but typically extend repayment to 20 or 25 years, depending on the specific plan. Unlike the Standard, Extended, and Graduated Repayment Plans, income-driven repayment plans provide student loan forgiveness if there's a remaining balance at the end of the term.

“Forgiveness is a great option to pursue for someone who has a very large amount of debt, and would likely benefit from paying lower payments for the required periods,” says Jordan Banning, a certified financial planner (CFP) and founder of Crafted Financial Planning.

“Income-driven repayment plans are great for this, but if you expect income to increase substantially, I would recommend running the numbers to see how your required payment could change,” he advises.

Federal repayment timelines at a glance

Here's an overview of federal student loan repayment plans and terms. This can give you an idea of how long it takes to pay off your student loans. However, you can always pay off your loans faster than the set term.

Repayment timelines for private student loans

Private student loans don't offer the same types of repayment plans as federal student loans. However, many private lenders offer similar repayment terms — though options vary by lender.

While each private lender is different, it's common for these lenders to offer repayment terms between five and 15 years. For example, College Ave offers the following repayment terms for its undergraduate student loans:

• 5 years
• 8 years
• 10 years
• 15 years

Private lenders use your credit score to assess eligibility, and this can impact both your interest rate and loan term. You can usually qualify for lower interest rates and longer repayment terms with good-to-excellent credit, and each of these directly affects how long it takes to pay off your student loans.

Strategies to pay off student loans faster

Your repayment term is the maximum amount of time you have to pay off your loans. But that's not to say that you can't pay off your student loans sooner rather than later.

“Paying off the loan early in its life is often far more advantageous than waiting until later to be aggressive, since most student loans effectively front-load the interest expense,” says Bennett Pardue, a partner and financial adviser at New Canaan Group.

Here are three strategies to pay off student loans faster:

1. Make extra payments: Any additional cash you put toward your balance can chip away at your student loans faster. If you get a tax refund, money for your birthday or a holiday, or a bonus at work, consider putting it toward your student loans. Tell your loan servicer you'd like to put the additional funds toward your principal balance, otherwise, it'll be put toward the interest first.
2. Pick a repayment strategy that motivates you: With the debt snowball method, you focus on paying off your smallest loan balance first. This can lead to quick wins that push you to keep going with your other loans. Meanwhile, the debt avalanche repayment strategy allocates any extra funds toward your highest-interest debt first, helping you to save the most on interest. In both cases, minimum payments are made on the rest of your loans.
3. Consider student loan refinancing: If your goal is to be debt-free as soon as possible, refinancing your student loans can make sense, since it can lead to a shorter repayment term and/or a lower interest rate, which can expedite repayment. However, think carefully before refinancing federal student loans.

“If you're confident in your ability to meet fixed payments and want to pay off your loans quickly, private loans or refinancing may make sense,” says Adrianna Adams, a CFP and head of financial planning at Domain Money.

“However, refinancing federal loans into private ones forfeits access to forgiveness programs, income-based repayment plans, and features like deferment or forbearance, so it's important to consider all of the pros and cons,” Adams adds.

So, before refinancing your federal student loans, evaluate your financial goals.

Factors that influence how long it takes to repay student loans

Every borrower's situation is unique, so there's no standard repayment timeline. But several factors influence how long it takes to pay off student loans, including:

• Loan balance: Your outstanding balance is a mix of your principal balance (what you originally borrowed) and any interest accrued. Depending on your budget and repayment plan, it could take longer to pay off higher loan balances.
• Interest rate: Federal loans have the benefit of fixed interest rates, while private loans can have either fixed or variable rates. High interest rates can mean paying more in interest before being able to tackle the principal balance. Lower rates can make repayment more affordable and manageable.
• Income: How much you earn impacts your ability to repay your student loans. It can also affect the size of your monthly payments under any of the income-driven repayment plans. A higher income can help you pay off your student loans faster, while a lower income can extend the repayment timeline.
• Repayment plan: You have more options for repayment timelines with federal loans. Each repayment plan has a different repayment term, which outlines how long you have to pay off your student loans. The Standard Repayment Plan has a 10-year repayment term, while the Extended Repayment Plan gives you up to 25 years to pay off your loans.
• Financial changes: Navigating a job loss or reduced workload can affect your repayment timeline if you have fewer resources to put toward your debt. Conversely, if you get a raise or lower your expenses and cost of living, you may have a larger cushion to help you pay off debt.

Tips for managing student loan repayment timelines

How long it takes to pay off student loans depends on various factors. To find the best repayment timeline, consider the following:

Focus on your goals

Your repayment term dictates how long it can take to pay off student loans. But with federal loans, you can switch up your repayment plan as needed for your goals.

If you want to pay off your student loans quickly or pay less in interest, stick to the Standard Repayment Plan. If you know your repayment strategy is getting a portion of your loans forgiven, choose one of the income-driven repayment plans.

“Another consideration is how student loans affect your ability to qualify for other loans, such as a mortgage,” says Adams. “If buying a home is a priority, paying down student loans faster may improve your debt-to-income ratio and help you achieve that goal.”

Create a budget

Use budgeting apps or tools to help you plan for your monthly payments each month so you stay on track. If you can cut down on other categories, you can free up additional funds to put toward your debt.

Stick to the plan

Keep up with your monthly student loan payments to stay on track. While deferment and forbearance are useful tools if you're experiencing financial hardship, they could extend your repayment timeline.

“Those deferred payments are still part of the total balance you owe, and if you have unsubsidized loans, interest can continue to be added to your balance. This can extend your payoff period,” says Banning.

It could be more cost-effective to switch to an income-driven repayment plan, which could get you $0 monthly payments that still count toward loan forgiveness.