Student Loan Payoff Strategy
Your Loans
Federal Loan 1
Private Loan
Federal Loan 2
Comparison
Avalanche Method
Total Interest: $1,184
Payoff Time: 4 years 4 months
Pays highest interest loans first (saves money)
Snowball Method
Total Interest: $1,353
Payoff Time: 5 years 5 months
Pays smallest balances first (psychological wins)
Which Should You Choose?
- Avalanche saves more money in interest
- Snowball provides faster motivation
- Consider refinancing high-rate loans
- Extra payments make the biggest difference