![]() ![]() Note: there are two options for using this tool. The official government website is designed to help in calculating your monthly payment on Federal student loans. Department of Education’s Federal Student Aid Repayment Estimator It also allows users to plug in their anticipated year of college graduation and estimated starting salary as part of the calculation process. ![]() This tool reminds borrowers of the actual annual borrowing limits by academic year for federal education loans, in addition to being able to input other loan types and corresponding interest rates. It also shows you what making an additional payment might do to reduce your loan balance over the term of the loan. This comprehensive calculator shows not only what your monthly payment might be but also determines how much you’ll pay in cumulative interest. Navient (powered by Wealth Management Systems Inc.) You can enter multiple loans to see the effect of including select loans (such as only your private student loans) or all of your loans, including federal debt. The calculator on this site helps you understand what your new monthly payments might look like if you refinance or consolidate your loans. Student Loan Refinance Calculator (powered by Edvisors ®) The results of this calculator are not based on any information provided by or an affiliation with any school. We encourage any user to seek personalized advice from qualified professionals regarding all personal finance issues. Actual terms will be set by your lender or your school. This calculator should not be used by anyone to make material financial decisions and should be used solely for informational purposes. It is the responsibility of the user to verify that all of the output and resulting calculations are correct. We cannot and do not provide any guarantees, conditions or warranties as to result accuracy or applicability to the user’s particular circumstances. Calculated results are based on many factors, including the assumptions provided by the user. This calculator is provided for informational purposes only. Listed below are five of the most popular student loan calculators currently available to help students and their families estimate repayment amounts: Although intended as a calculator for Federal Education loans (subsidized and unsubsidized Stafford Loans, Federal Perkins, as well as Grad and Parent PLUS Loans), and most private student loans, many loan payment calculators also work for mortgages, auto loans and other forms of consumer credit. To assist in the planning process, it’s a good idea to use a student loan calculator to estimate what your monthly payments might be based on the amount you might borrow, the interest rate of the loan, the length of the loan repayment period, and your estimated starting salary when you graduate. Otherwise, many students often treat loan limits as targets because they lack insights into how much student loan debt is reasonable. Increasing awareness of your spending helps you to exercise restraint and reduce the need to borrow. Before taking on any debt including student loans, it’s important to budget before you borrow. These days about two-thirds of those earning bachelor’s degrees borrow some type of student loans. Figuring out where the funds will come from can sometimes be even more challenging. Ready to explore your options? Instantly Compare Lenders for Your School! Scroll down to learn more and access additional calculators. ![]() Our first loan payment calculator will show you how much you'll pay each month, so you can make sure the loan in affordable. Need to find out what your monthly student loan payment will be? We can help. ![]()
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