Compare legal limits, fees and the true cost of small loans in your state before you talk to any lender. Compare legal limits, fees and the true cost of small loans in your state.
Payday Loan Rollover Calculator
When you cannot repay a payday loan on the due date, many lenders let you pay only the fee and extend the loan for another term. The amount you owe does not go down. Enter your loan and the number of renewals to see how much you would pay in fees.
$15 per $100 is the most common payday loan fee.
- Fee per term
- $45.00
- Total fees paid
- $225.00
- Total paid (loan + fees)
- $525.00
- Fees as % of the loan
- 75%
Fees now exceed the amount you borrowed, and you still owe the full loan.
“Loan” is the first term; R1, R2… are renewals. Each rollover pays only the fee; the principal stays the same. Many states ban or limit rollovers.
How a rollover works
A rollover, also called a renewal or extension, means you pay the fee due on the loan but not the principal, and the lender gives you another term. Because the full amount is still owed, the lender charges the same fee again. After a few renewals the fees alone can exceed the amount you borrowed.
The CFPB has found that most payday loan fees come from borrowers who take out many loans in a row. Each renewal costs the same as the first loan, so four rollovers on a $300 loan at $15 per $100 cost $225 in fees, and you still owe the $300.
Many states ban rollovers outright or limit them to one or two, and some require lenders to offer an extended payment plan without extra fees. Check the rules for your state before you agree to renew, and ask the lender about a payment plan first.
Fee per term = (Loan amount ÷ 100) × Fee per $100Total fees = Fee per term × (Number of rollovers + 1)Total paid = Loan amount + Total fees
Payday Loan Rollover Calculator: FAQ
Does a rollover reduce what I owe?
No. A standard rollover only pays the fee for the current term. The principal stays the same, which is why fees keep growing while the debt does not shrink.
Are rollovers legal in every state?
No. Many states prohibit rollovers or cap the number allowed, and several require a free extended payment plan. Our state pages list the rollover rule for each state.
What should I do if I can't repay on time?
Ask the lender about an extended payment plan before the due date, contact a credit union about a payday alternative loan, or speak with a nonprofit credit counselor. Renewing repeatedly is the most expensive option.