Know what a lender is allowed to charge you before you sign anything, and spot cheaper options early. Know what lenders can charge before you sign.
Figure Renewal Costs on Payday Loans
Missing the due date on a payday loan often triggers a rollover. You pay only the fee, and the lender extends the loan for another term. The principal stays untouched. You'll enter your original loan amount, the fee per term, and how many times you might roll it over. The calculator adds up every fee to show total cost and the point where fees exceed what you borrowed.
$15 per $100 is the most common payday loan fee.
- Fee per term
- $75.00
- Total fees paid
- $300.00
- Total paid (loan + fees)
- $800.00
- Fees as % of the loan
- 60%
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.
The way rollovers unfold
A rollover—sometimes called renewal or extension—happens when you pay the fee but leave the principal alone, and the lender gives you a new term. The full debt stays on the books, so the same fee hits again. Do this enough times and fees alone can grow larger than what you borrowed.
The CFPB has found that most payday loan fees come from people who borrow again and again in quick succession. Each renewal costs the same as the first loan, so four rollovers on a $300 loan at $15 per $100 means $225 in fees with the original $300 still due.
States take different approaches: some ban rollovers entirely, others allow only one or two, and some require lenders to offer extended payment plans with no added fees. Learn your state's rules before you agree to renew, and ask your lender about payment plans before you proceed.
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 renewal cut down 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 permitted 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 steps should I take if I cannot make the payment on time?
Talk to your lender before the due date about an extended payment plan, reach out to a credit union for a payday alternative loan, or get advice from a nonprofit credit counselor. Constant renewal is the most expensive way to go.