Payday loan rollover calculator: repeated fees and total repayment.
See how repeated fees add to the amount owed when a loan is renewed without reducing principal. For example, $300 at $15 per $100 costs $45 per cycle: five renewals mean six fees, or $270, plus the $300 principal. This is an illustration, not a statement that rollovers are legal or available in your state.
Payday Rollover Cost
Principal + all cycle fees
$480
Fees vs Principal
60%
3 renewals means 4 fee-bearing cycles, including the original loan. Paying a renewal fee alone does not reduce the $300 principal. The total above includes all cycle fees, including any already paid; it is not a statement of your current payoff balance.
Renewal fees add up
With 3 renewals, the total fees are 60% of the original principal. Fee-only payments leave the principal unchanged.
Illustrative calculation using the fee selected above; the starting assumption is $15 per $100 per cycle. Repeated rollovers can result in fees exceeding the original principal. Check your state laws for rollover restrictions and bans.
What does a $300 payday loan cost after each rollover?
At $15 per $100, each 14-day cycle costs $45. Zero renewals still includes the original loan fee. The following rows are separate scenarios ending in full repayment, not a list of payments to add together.
| Renewals | Days until final repayment | All cycle fees | Principal to repay | Total paid to close |
|---|---|---|---|---|
| 0 | 14 | $45.00 | $300.00 | $345.00 |
| 1 | 28 | $90.00 | $300.00 | $390.00 |
| 2 | 42 | $135.00 | $300.00 | $435.00 |
| 3 | 56 | $180.00 | $300.00 | $480.00 |
| 4 | 70 | $225.00 | $300.00 | $525.00 |
| 5 | 84 | $270.00 | $300.00 | $570.00 |
For five renewals, the six cycle fees total $270 and returning the $300 principal brings the overall cost of repayment to $570. This is the total across the scenario, not $570 due in addition to fees already paid. Actual payment dates, other charges, and renewal permissions may differ.
Compare payday and installment repayment schedules before treating a smaller payment as a cheaper loan.
Payday rollover fee formula
Fee per cycle = amount borrowed ÷ 100 × fee per $100. Total fees = fee per cycle × (renewals + 1). Total paid to close = principal + total fees.
For a 14-day loan charging $15 per $100, the simple annualized rate is 15 ÷ 100 × 365 ÷ 14 × 100 ≈ 391%. Annualizing expresses the price over a year; it does not mean you necessarily renew for a year. This model assumes no principal reduction, unchanged fees, and no late or bank charges.
The CFPB explanation of rollovers describes why paying fees does not pay down principal. Its repayment-plan guidance notes that availability and fees depend on state law and lender policy.
What limits this
State rollover bans
Many states prohibit renewals outright; others cap the number or require a cooling-off period between loans. Your state's rules are the first thing to check.
Extended payment plans
Ask whether a repayment plan is available and whether it has fees. Availability depends on your state and the lender’s policy.
Military Lending Act
Additional protections may apply to covered servicemembers and dependents. Check the CFPB guidance and your legal-assistance office for the product involved.
Rate caps
Rate caps vary by state, and our state figures are not source-verified yet. Check your state regulator before relying on a limit.
If you are already in a cycle
- 01Do not borrow to repayA second loan covering the first converts one expensive debt into two. This is the single step that turns a difficult month into a difficult year.
- 02Contact the lender before the due dateAsk about an extended repayment plan, its fees, and how to request it before the due date.
- 03Consider revoking ACH authorisationYou may be able to stop automatic debits, though this does not cancel the debt and may trigger other consequences. Speak to both the lender and your bank first.
- 04Get free counsellingA nonprofit credit counselor can help assess your budget and repayment options. Ask about charges and which debts can be included.
- 05File a complaint if the lender misbehavesUnlicensed lending, undisclosed fees, or collection harassment should go to your state regulator and to the CFPB. Both are free and both are read.
Questions about rollovers
What is a payday loan rollover?
A rollover, sometimes called a renewal or extension, is when a short-term loan cannot be repaid in full on its due date and the lender extends it for another period in exchange for a new fee. The principal does not shrink. You pay the fee again for the same money, and the loan begins again.
How does a $15 fee per $100 become a triple-digit APR?
Because the fee covers a very short period. Fifteen dollars on $100 is a 15% charge, but if the term is fourteen days that charge repeats roughly twenty-six times a year — which annualises to approximately 391% APR. Both numbers describe the same loan. The fee sounds small because the term is short, not because the credit is cheap.
How much are the fees after five renewals?
At $15 per $100 on $300, five renewals mean six $45 fees, or $270. Including the $300 principal, the total paid to close the loan is $570. Fees already paid are part of that total, not extra charges on top of it.
Are rollovers legal?
Many states limit or ban renewals. Verify the current rule with your state regulator and ask the lender about repayment-plan options. The calculator models a fee pattern; it does not confirm legal availability.
What should I do if I cannot repay a short-term loan?
Contact the lender before the due date to ask about a repayment plan and its costs. Review your budget and consider nonprofit credit counseling before adding another debt. A counselor can explain options, but cannot guarantee that a lender will change the agreement.
Is an installment loan a better alternative?
Structurally, usually yes, because it amortizes: each payment reduces the balance and the debt has a fixed end date rather than an open-ended one. That is a genuine improvement over a loan that renews. It is not the same as being cheap — an installment loan at 200% APR is still expensive credit, and the calculator on the total cost page will show you exactly how expensive.
Compare with a structured loan
Calculators and guides on this site are educational estimates, not offers of credit and not financial, legal, tax, or credit advice. Actual terms depend on the lender, your state, verification, underwriting, and applicable law. This page describes how renewal fees accumulate; it is not a statement that any particular product is legal or available where you live. StraightSum is not a lender, loan broker, or credit services organization. We do not make credit decisions, issue funds, set rates or fees, guarantee approval, or service loan accounts.