Using the FinAid Student-Loan-Prepayment Calculator, I found the following analysis using 50% of my net pay as the monthly payment.

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Loan Balance: $100,000.00

Loan Interest Rate: 6.80%

Loan Term: 10 years

Regular Monthly Loan Payment: $1,150.80

Extra Payment: $751.00

Extra Payment Frequency: Monthly

Without Extra Payments

Number of Payments: 120

Total Payments: $139,247.37

Total Interest Paid: $39,247.37

With Extra Payments

Number of Regular Payments: 63

Cumulative Regular Payments: $72,500.40

Number of Extra Payments: 63

Cumulative Extra Payments: $46,566.22

Overall Total Payments: $119,066.62

Total Interest Paid: $19,066.62

Savings

Prepayment Savings: $20,180.75

Reduction in Interest: 51.42%

Reduction in Payments: 14.49%

Reduction in Loan Term: 4.8 years ( 47.50%)

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So I can pay this loan off in 5.2 years and save $20,180.04! That's awesome!

I'm going to ride my bike and get a bike trailer for groceries and stuff too. That seems like a no-brainer. If I need a car for inter-city travel, I'll just rent one.

http://www.finaid.org/calculators/scripts/prepayment.cgi