This worksheet helps you estimate
your monthly loan payment and
allows you to see the impact
of required minimum monthly
payments.
To estimate your monthly payment, enter
the loan balance, interest rate, and loan term (leave
the minimum monthly payment set to 0).
Some loan programs have a minimum monthly
payment requirement. Include the minimum requirement
to estimate the affect on your repayment schedule. It
may result in a shorter loan term.
Tips
Many education loans have maximum repayment periods (often 10 years).
The shorter the loan term, the less interest you will pay.
For more information on the options
for repaying a student loan, visit the
Repayment Options.