Please enter numbers without spaces or commas (e.g. If you want to compare different repayment options, enter each set of numbers in its own column and your results will be displayed side by side. Our calculator shows you the total cost of a loan, expressed as the annual percentage rate, or APR. You can change and resubmit any of the numbers you enter. The Loan Repayment Estimator will display your results at the bottom of the column. Use the calculator below to evaluate the student loan payoff options, as well as the interest to be saved. Check out Repay a Canada Student Loan - Update payment options for more information. An amortization table can help you estimate. You may however, request a longer repayment period of up to 174 months (with the non-repayment period) or 180 months (without) by changing This is just a fancy word for the process of paying off your loans with a planned, incremental repayment schedule. Payments you make during the six-month non-repayment period will be applied directly to the principal of your loan. The standard number of payments is 114 if you start your payments 6 months after studies, or 120 if you do not. Start making moves toward your money goals and compare your debt management options. Make to repay your Canada Student Loan or other government student loans.Īll you need to do is enter the total amount of your loan(s), chooseĪn interest rate option, and decide on the number of monthly payments that you would like to make. All student loan calculators Student loan resources Manage your debt. *The figures on average student debt are based on 2016 information from a licensed dataset from Peterson's / Nelnet LLC, all rights reserved.The Loan Repayment Estimator can help you estimate the monthly payments you will need to Enter the loan term in years, the annual interest rate, and the start date of your loan (month and year). Federal student loan interest, which is typically fixed, is set at 5.5 for undergraduates this upcoming school year.However, if you know the exact amount of your loan, you can manually enter it in the 'Loan Amount' field.In this case, the 'Loan Amount' field will be populated automatically based on your selected name. Start typing the name of the college or university you want, and select the appropriate name from the drop down list *.It also creates a printable payment schedule for your loan.įollow the steps below and click 'Calculate' to see the results. You can use this Student Loan Repayment Calculator to calculate your student loan repayments and see a full breakdown of your payments over time. It allows you to test how the length of your studies, loan repayment period. Student finance calculator - get a quick estimate of what student loans, grants, bursaries and other funding you could get - for full-time, part-time and EU. Use ELFIs Student Loan Calculator to estimate your monthly student loan payment based on the loan amount, preferred loan terms, & expected graduation date. The calculator will take your loan information and calculate the best possible way for you to pay off your debt as quickly as you feasibly can. The student loan calculator is a handy tool when planning taking out a student loan. One way that students, graduates, and applicants can gauge potential loans is by using a student loan calculator.
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