<prompt> Human: Like the title says, I have 27k left in student loans but only 27 left in unpaid interest...does it make sense to pay off the loans early? Do I get any interest back if I do? My husband and I also have a mortgage 4 interest, 250k that weve been putting our extra money towards. Edit: To clarify, when I make my payments a portion goes towards the principal and a portion goes towards the interest. Right now these loans are 10 years old the interest portion is almost completely paid off. My question is, if theyve allocated that money towards interest, but I pay off the loan early, do I get some of that interest portion that has already been paid back?  <response>: Your loans constantly generate more interest. If your student loans interest rate is 5, they will generate 112.5 in interest a month. The benefit of paying your loan off early is that you pay less interest by paying it off faster. Use a calculator like unbury.us to see how much interest you can save based on how much you can pay towards it each month. 