Education Loan Calculator

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Education Loan Calculator
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3 Student Loan Calculators That Can Help Save You
Thousands
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• Seven in 10 college graduates in 2015 have some
  student loans when they graduate. So, unless
  youre one of those lucky few, student loans are
  likely to be a part of your monthly expenses upon
  graduation. Fortunately, there are many student
  loan repayment calculators that can help ease the
  payoff process.
• Borrowers are often unsure about what their
  payments will be or how long repayment will
  likely take. Here are three great student loan
  calculators for student loan borrowers to learn
  more about their payment and payoff options.

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Student Loan Payoff Calculator

• This payoff calculator offered by Nerd Wallet is
  a very quick way for students getting a loan for
  the first time or borrowers who have not entered
  into repayment yet.
• Allows a borrower to see how much their payment
  will be depending on the interest and length of
  the loan.
• Once a borrower puts in his or hers loans, the
  amount of interest paid will be displayed. This
  can be very useful to help see how much you could
  save by refinancing.

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Student Loan Repayment Calculator 

• Several student loan calculators offered by You
  Can Deal With It are focused on eliminating
  student debt.
• Student loan repayment calculator that shows how
  much you would likely pay on various federal
  income-based repayment plans.
• Has a student debt calculator that compares how
  long it would take to pay off your loans with
  current payments and with additional (prepaying)
  payments.
• Other calculators include, budget calculators,
  interest rate calculators and student loan
  consolidation calculators.
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Student Loan Consolidation Calculator 

• This calculator offered by Fin Aid is intended to
  show borrowers how they can consolidate multiple
  loans into one loan.
• It allows borrowers to enter in various student
  loan types including private loans, federal loans
  and PLUS loans. However, private loans can only
  be added to a private consolidation.
• Consolidation calculator shows what payments and
  terms would be if they were consolidated into one
  loan.
• Results generate repayment and estimated required
  income on a standard 10-year term, an extended
  repayment of 20 years and a graduated repayment
  program of 20 years.

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Methods of Paying off Student Loans

• As the education loan calculator propose, there
  are several repayment strategies that can be
  adopted to help pay off your student loans
  faster. Seeing how prepayment can help reduce
  your total interest paid is one method that
  should be explored if you are the right financial
  state. Consolidation is a great way to ease the
  repayment process and adjust the term length of
  your loans accordingly. If you have federal or
  federal and private loans, though, refinancing is
  a great way to lower your interest rate and
  change your repayment terms completely as well as
  maximize for a lower monthly payment or a lower
  total repayment.

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