If you’re wondering how much to borrow for college—whether it’s a public university or private university—the College Planning CalculatorSM can help. This site is not endorsed or affiliated with the U.S. Department of Education. There’s no interest, payment options are flexible, setup fees are affordable, and it’s easy to enroll! The estimated monthly payment assumes the same payment amount and fixed interest rate for the life of the loan and does not account for a variable interest rate. For existing Sallie Mae loans entering principal and interest repayment. Find your institution’s payment plan: Search Check your rate in 2 minutes. Student Loan Payment Calculator. The average interest rate will be different for federal student loans and private student loans. Information obtained via Student Loan Hero™ is for educational purposes only. Borrowers who take out a term of 5, 7, or 10 years will have a maximum interest rate of 9%, those who take out a 15 or 20-year variable loan will have a maximum interest rate of 10%. A plan can help you figure out how you’ll save and pay for college. There can possibly be fees involved; when doing calculations, all upfront fees entered will be rolled into the loans. Obtain a personalized projection of your future college costs by entering your child's age, the type of college you're saving for, and your household income. Please select your funding goals Your numbers. Terms and Conditions apply. Approval and interest rate depend on the review of a complete application. Use our dynamic tools to search for colleges and check the college payment plans. Repayment examples do not include the 0.25% AutoPay Discount. To calculate your student loan payments, enter the loan amount, anticipated interest rate, and length/term of the loan (how many years you have to pay it back). All IDR plans are only available for federal student loans, not private loans. You can see the full cost of college, not just tuition. The information provided on this page is updated as of 10/26/2020. © 2020 Earnest LLC. Use this calculator to see how much college will cost by the time you enroll. Use our calculator to choose a school and the percentage of costs you want to fund. Refinancing to a longer term may lower your monthly payments, but may also increase the total interest paid over the life of the loan. Sallie Mae does not guarantee the estimator accuracy or applicability to a person's individual circumstances. College Planning Calculator SM. Tuition payment plans break down your tuition balance into affordable monthly payments. Just enter your information and click CALCULATE. Hard credit inquiries (or hard credit pulls) are required for SoFi to be able to issue you a loan. This information was gathered on 09/16/20 from https://www.consumerfinance.gov/askcfpb/597/how-long-does-it-take-pay-federal-student-loans.html. Please enable javascript to view this site. Calculate With Extra Payment. Olivet College offers the opportunity to establish payment plans on any remaining balance you may have after financial aid. Earnest Operations LLC is located at 302 2nd Street, Suite 401N, San Francisco, CA 94107. Variable Rates: The current index for variable rate loans is derived from the one-month London Interbank Offered Rate (“LIBOR”) and changes in the LIBOR index may cause your monthly payment to increase. December 23, 2020 | Staff Writers College costs can feel overwhelming, but planning ahead can ease the burden of college tuition and help students pay for school. This information is current as of October 1, 2020. Simple Steps to Enroll. Payment Worksheet . There are ways to reduce your monthly payment if this amount seems unmanageable. Laurel Road is a brand of KeyBank National Association offering online lending products in all 50 U.S. states, Washington, D.C., and Puerto Rico. Savings vary based on rate and term of your existing and refinanced loan(s). Earnest variable interest rate loans are based on a publicly available index, the one month London Interbank Offered Rate (LIBOR). This loan calculator can be used with Federal education loans (Stafford, Perkins and PLUS) and most private student loans. The College offers a payment plan to break up your tuition payments. You’ll be given a definite term for your loan when you apply. Just enter the amount of your loan, the interest rate, and how long you have to pay it back. That means the rate you’ll be offered depends on your creditworthiness—and that of your cosigner, if you have one—together with several other factors. Payments can be made via ACH transfer or credit card. Student Loan Income-Based Repayment (IBR) Calculator Income-Based Repayment (IBR) is a repayment plan available to federal student loan borrowers. To qualify, a borrower must be a U.S. citizen or permanent resident in an eligible state and meet applicable underwriting requirements. Lenders participating on LendKey.com reserve the right to modify or discontinue the products, terms, and benefits offered on this website at any time without notice. Sallie Mae, the Sallie Mae logo, and other Sallie Mae names and logos are service marks or registered service marks of Sallie Mae Bank. You can also develop a full plan for financing your higher education with our College Planning CalculatorSM. NMLS Unique Identifier #1136. Splash Financial and our lending partners reserve the right to modify or discontinue products and benefits at any time without notice. Calculator, 6 Best Parent Loan Refinancing Banks of 2018, How Public Service Loan Forgiveness Works, Tips on When Student Loan Forgiveness Makes Sense, 5 Best Alternative Options to Student Loan Forgiveness, Get a Custom Repayment Plan – Interactive Tool, How to Repay Student Loans Faster – The Guide, What Can Repaying Your Loans Faster Save? Subject to floor rate and may require the automatic payments be made from a checking or savings account with the lender. All credit products are subject to credit approval. To check the rates and terms you qualify for, Splash Financial conducts a soft credit pull that will not affect your credit score. At CalcXML we are aware of the need to plan ahead, so we developed a user friendly 529 college savings plan calculator. Interactive Quiz, What Would Refinacing Save You? Splash reserves the right to modify or discontinue products and benefits at any time without notice. If approved, your actual rate will be within a range of rates and will depend on a variety of factors, including term of loan, a responsible financial history, income and other factors. You may find more information on loan eligibility here: https://www.earnest.com/eligibility. The estimate does not account for missed payments, the use of deferment or forbearance, or any required minimum monthly payment amount for a particular loan. The payment plan consists of four monthly payments per semester. It’s easy to find out exactly how much your payments will be. The information you provide to us is an inquiry to determine whether we or our lenders can make a loan offer that meets your needs. CollegeCalc is a source for students and parents seeking college pricing data and higher education cost calculation. This calculator shows you how much to save for college … Choose a type of interest and repayment option, Understand the student loan application process, Paying for health professions graduate school, Learn about graduate grants and fellowships, Consider other ways to pay for graduate school, Consolidating or refinancing your student loans, Estimate your upcoming student loan payments, How we allocate and apply your student loan payments, Understand student loan military benefits, Managing your student loan on active duty, Scholarships for women and single mothers, Federal Supplemental Education Opportunity Grant (FSEOG), Compare federal and private student loans, https://www.consumerfinance.gov/askcfpb/597/how-long-does-it-take-pay-federal-student-loans.html. Rise and planning for those rapidly rising tuition bills is more important than ever calculator with a plan... Check the college payment plans Prepaid college Trust prices for various tuition plans and payments based your! 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