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Lump Sum Payment Calculator

Lump Sum Extra Payment Calculator

Redirecting your Bonus or Paid Time Off (PTO) as a one-time large extra payment to your student loan debt?

See how much you'll save time and interest. With your employer and the Paidly On-Demand service, we'll show you estimates of how much you can save.

Lets start with your current student loan information



Number of payments: 120

Interest Savings


Monthly Savings

-71 months

and you will pay your loan off 5 years 11 months faster**

Keep in mind, these are estimates
*Data based on entered loan values
**Estimated savings include total SLB contributions plus estimated interest savings. Assumes extra payments are applied throughout repayment term of the loan and that you continue to make you regular monthly payments. Individual savings will vary.

What do you need to know for this calculator?

What is an Extra Lump Sum Payment?

Your employer can redirect any bonus or leftover paid time off (PTO) into an extra payment toward your student loan debt. This extra payment and your continued monthly payment would go directly to your loan principal saving you time and interest paid on the life of your loan.

When using Paidly, you and your employer both can take advantage of tax-free contributions to your student loans. Your employer can contribute up to $5,250 till the year 2025 with the Coronavirus Aid, Relief, and Economic Security(CARES) Act of 2020 and the Coronavirus Response and Consolidated Appropriations Act (2021).

Current Loan Balance

Simply about what you have left to pay on your loan today. Often be different than your final payoff amount, which would be the amount you would need to pay the loan off today.

Monthly Payment

The monthly amount you pay on a regular interval on your student loan. Its amount is based on the amount borrowed and the length of the loan.

Interest rate

Your cost of borrowing money. It's calculated based on the amount borrowed and the length of the loan. Interest is added to your loan balance at regular intervals, most of the time this is monthly. This is why you'll pay more over time because it compounds. Read our How Does Student Loan Interest Work .

What does it mean I'll pay my loan off faster?

Continuing to make regular monthly payments to your student loan and converting bonuses or PTO to an extra payment as a lump sum will be paid directly to the principal of your student loan, lowering the balance that your interest calculates each month. Simply put, extra payments drastically change the life of your loan.

My Employer does not offer a Paidly student loan benefit what can I do?

Simply mention this benefit to your HR or benefits manager or

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Please be advised that MeetPaidly does not offer financial, tax, or legal advice including regarding the financial, tax, or legal implications and execution of your offered benefits. You must independently understand and ensure compliance with the applicable local, state, and federal laws and regulations.