Loan Calculator

Are you thinking about taking out a student loan to pay for school? Use this calculator to see the impact the loan can have on your future budget.

Enter the required information and click calculate to learn more.

1

Projected annual salary

2

Current student loan interest rate

3

Projected student loan debt

4

Repayment period (in years)

Calculate

Based on the information you provided, and to ensure that your loan repayment is manageable, your monthly payment should not exceed . Your maximum suggested borrowing level is .

Results Projected Loan Loan Maximum
Loan Amount
Interest Rate
Repayment (in years)
Monthly Payment
Total Interest Paid
Total Repayment

If you increase your monthly payment, you will be able to pay off your loan faster and you will pay less interest. The following table shows how fast your loan could be repaid if you pay the maximum recommended monthly payment every month.

Accelerated Payment Option
Loan Amount
Interest Rate
Repayment (in years)
Monthly Payment
Total Interest Paid
Total Repayment

    -    
  Year Option

    =    
 Accelerated Option


Total Savings

Disclaimer
Information presented for general planning purposes only, and is not intended as a final representation of your outstanding student loan obligations. Please consult with your loan servicer for specific information about loan balances and repayment. This calculation assumes that projected loan amounts only accrue interest after graduation, and any related grace period.

Questions