College Loan Prepayment Calculator

Calculator Inputs

Making extra principal payments on a loan may help satisfy it sooner and decrease the amount of total interest paid, and thus the total cost of the loan. This calculator demonstrates the benefits of paying extra on your loan and the manner in which it will affect your loan term.

Amount of Loan (Principal): must be greater than 0.
Annual Interest Rate: must be between 0 and 100.
Term of Loan: must be greater than 0 and less than 30.
Term of Loan: must be an integer.
Monthly Payment You Would Like to Make (Scenario 1): cannot be negative
Monthly Payment You Would Like to Make (Scenario 1): must be greater than zero
Monthly Payment You Would Like to Make (Scenario 2): cannot be negative
Monthly Payment You Would Like to Make (Scenario 2): must be greater than zero

Amount of Loan (Principal):
Annual Interest Rate: %
Term of Loan: years

Minimum Monthly Payment:
      Scenario 1:
      Scenario 2:
     




 

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