Loan Discount Analyzer

Below are examples of the impact one repayment benefit, an interest rate reduction, has on the loan repayment term and amount. For a current calculation, using a specific loan amount, visit http://www.finaid.org/calculators/loandiscountanalyzer.phtml.



Estimated Savings:

$31,000 Loan without interest rate reduction
Interest Rate: 6.80%
Monthly Payment: $356.75
Total Payments (P&I): $42,809.88
Total Interest Paid: $11,809.88
Number of Payments: 120.0
  
$31,000 Loan with .25% interest rate reduction at repayment
Interest Rate: 6.55%
Monthly Payment: $356.75
Total Payments (P&I): $42,142.68
Total Interest Paid: $11,142.68
Number of Payments: 118.1
  
  
$57,500 loan without interest rate reduction
Interest Rate: 6.80%
Monthly Payment: $661.71
Total Payments (P&I): $79,405.43
Total Interest Paid: $21,905.43
Number of Payments: 120.0
  
$57,500 loan with .25% interest rate reduction at repayment
Interest Rate: 6.55%
Monthly Payment: $661.71
Total Payments (P&I): $78,167.88
Total Interest Paid: $20,667.88
Number of Payments: 118.1