The student loan payment calculator will help you determine how much you’ll pay in interest over the life of your loan.
This student loan payment calculator is designed to help you determine your monthly payments and total cost of a loan.
The student loan payment calculator is designed to help you determine your monthly payments and total cost of a loan.
The student loan payment calculator will help you determine your monthly payments and total cost of a loan.
This student loan payment calculator is designed to help you determine your monthly payments and total cost of a loan.
Step 1: Enter the Loan Amount, Interest Rate and Term
The first step to using the student loan payment calculator is to enter in the loan amount, interest rate and term of your student loans. The loan amount is simply the total amount of your student loan debt. If you want to know how much it will cost per month, try putting in a 0% APR and finding out what happens!
The second piece of information needed is your annual percentage rate (APR). This can be found on any bill or statement from your lender(s). It tells you how much interest they charge over time as compared with other lenders who may offer better rates or terms than theirs–so knowing this information is crucial!
Finally, enter how long until graduation day–or if you’re still working on college credits now but plan on graduating next year…then enter that number instead!
Step 2: Review Your Results
Once you’ve entered your information, the calculator will calculate the following:
- Total interest paid
- Total amount of the loan, including principal and interest
- Number of payments made on the loan (including any extra payments)
- Number of months between each payment, as well as a total number of months for all payments combined
The student loan payment calculator also provides an estimate for how long it will take you to pay off your student loans based on what you currently owe, how much money is going toward those debts each month and whether or not any additional funds have been added to make extra payments.
The student loan payment calculator will help you determine how much you’ll pay in interest over the life of your loan.
The student loan payment calculator will help you determine how much you’ll pay in interest over the life of your loan.
- Enter your loan amount, term, and number of payments.
- Choose an interest rate.
- Select whether or not you want to include taxes and insurance costs (if applicable). If so, enter them into their respective fields as well.
The calculator will then calculate the total cost of your student loan by adding up all the interest paid during its lifetime–including any prepayments–and subtracting it from the original principal balance.*
The student loan payment calculator is a great tool to use when you’re considering taking out a loan for school. By entering the information about your loan into the calculator, it will give you an estimate of what your monthly payments will be and how much interest you’ll pay over time. This can help with budgeting and planning ahead so that when those payments start coming in, they don’t catch anyone off guard!
