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All lenders will give you the payoff amount - it's no secret. If you can pay it off, do it!

All you need to do is just call your lender and give them a date - they calculate the interest and you can pay it. Worst case scenario is you miss it a few days and owe a little on your next statement - so always be watching it until you get confirmation you're paid in full (and then keep that statement).

Thank you again. So the payoff amount would be MORE than the principle due to interest?

Also, will my credit score be impacted by applying for loans to refinance? Say, if I shop around and apply with 4 or 5 lenders to find the best rate?

Just like you said, paying extra is the quickest way to get rid of it.

If you want to lower your interest, look into refinancing. We don't typically recommend refinancing Federal loans into private loans, but in your situation, it might make sense.

Here's an article breaking it down: https://thecollegeinvestor.com/17113/refinance-federal-loans-private-loans/

If you want to go the refinancing route, we're partners with Credible. We like them because you can compare your rates and fees in 2 minutes with no credit check. This allows you to see if it could even make sense without committing. Check them out here: http://go.thecollegeinvestor.com/credible-tci

Thank you for the response. I read through that article (good info there) and registered with Credible.

From your experience, how do loan servicers typically respond to requesting a payoff amount? I receive a decent annual bonus from work that could potentially put my balance in the ground when the time is right. Is a payoff amount something that only certain lenders are responsive to?

It seems that refinancing at the lowest interest rate I can find is best for my situation, but payoff amount request is something else I would like to know about.

I currently have $27,000 in student loan debt being serviced through FedLoan. It's at 7.25% fixed and is supposed to be a 10 year term.

I want this out of my life as quickly as possible. I can put $1500 to $2000 into it per month (my monthly payments are set at ~$350). I'm not a teacher and I don't believe I qualify as public service (I work for a utility company). I want to look into either refinancing to get a lower rate, requesting a payoff amount, or whatever is the quickest way possible to pay this off. I'd like to be done with this in ~2 years, as opposed to 10, but the interest is killing me.

Any advice is appreciated.