Student Loan Calculator:
This calculator helps borrowers understand the financial commitment involved in a particular loan based on the initial loan amount, interest rate, and loan term. By entering this information, you will receive an estimated payment amount that you must pay each month in order to fully satisfy your loan.
When borrowing for college, it is important to know if you are financially able to handle the monthly payments that are required to pay off the loan within the loan term. This calculator allows you to determine what the minimum monthly payment will cost you.
Please remember when considering college loans, you should plan for the entire number of years the student will be in college.