EDvestinU’s Student Loan Payment Calculator can help you estimate your private student loan rate, monthly payment amount, and total cost of loan. Get started by selecting your loan and expected college graduation dates.
College graduation date must be at least 5 months after the selected loan start date.
Before borrowing for college, it’s important to determine what your total expenses will be for tuition and fees, housing, meals, books, transportation and any other school–related expenses. Choose your loan amounts carefully and borrow only what’s needed to cover your required expenses. How much do you think you will need to borrow in private loans?
Consider applying with a cosigner to increase your chance of approval – especially if you have limited credit history. EDvestinU's private loan program offers a cosigner release1 after 36 months of consecutive on–time payments and meeting credit and income requirements. Will you have a cosigner?
1A Cosigner Release is allowed if an account is in current standing, after 36 months of consecutive & on–time payments with a borrower FICO greater than 749 and a minimum income of $30,000 gross income for the EDvestinU Private Student Loan. The borrower may not have any foreclosures, repossessions, wage garnishments, unpaid tax liens, unpaid judgments or other public records having an open balance exceeding $100 during the last 7 years. The borrower must not currently be involved in bankruptcy proceeding or had any bankruptcy filings during the past 10 years and cannot have any defaults on education loans.
EDvestinU relies in part on your credit score* or your cosigner’s (if applicable) to determine eligibility for private student loans. The higher your FICO® score, the lower your cost of borrowing. Rate your cosigner’s credit score?
*Credit scores may come from varying sources. Those sources may have access to different credit information and use varying scoring methods. EDvestinU uses a FICO® score reported from Transunion.
Which Repayment Plan is Right for You?
The EDvestinU Alternative Loan allows borrowers to choose either a 7, 10, or 15 year repayment length. A longer repayment term can mean lower monthly payments, but it often means you are paying more in the long run. Keep in mind, you always have the option of paying the loan off faster than your chosen repayment length and you'll never pay a penalty for doing so. In fact, we encourage it!
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Thank you for using the EDvestinU Student Loan Payment Calculator.
Below you'll see an estimate of your Annual Percentage Rate (APR) based on your self–reported credit score range and other factors. You'll also see how much you could be expected to repay on your education loans each month and the overall cost of borrowing. Hoping to reduce the cost of borrowing? By using Autopay1 to have your monthly payments automatically withdrawn from your bank account, you'll save an additional xx%.