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Student Loan Calculator

Description

The Student Loan Calculator helps you understand your loan repayment by calculating monthly payments, total interest paid, and comparing different repayment plans. This tool provides a clear financial overview to help you make informed decisions about managing your student loans.

By inputting your loan amount, interest rate, and term, you can see how different repayment plans affect your monthly payments and total cost over the life of the loan. Explore options like standard, extended, graduated, and income-based repayment plans to find the one that fits your needs.

Understanding your student loans can help you budget effectively and plan for a financially secure future. Use this calculator to take control of your student loan repayment strategy.

How to Use

  1. Enter the total loan amount, interest rate, and loan term in the input fields.
  2. Select a repayment plan from the dropdown menu to see its impact on your monthly payments.
  3. Click "Calculate Loan" to view the results, including monthly payments, total interest paid, and a comparison of repayment plans.
  4. Use the results to decide which repayment plan works best for your financial situation and repayment goals.
Last updated: 09/13/2024
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