When looking at the total cost of your student loans, there are many factors to consider. Most student loan calculators assume that the loan will be repaid in equal monthly installments through standard amortization. Therefore, the results are not accurate for some alternate repayment plans, such as graduated repayment, or income contingent repayment.
Here are some of the best student loan calculators available:
Be sure to take out your student loan money wisely!
Robert Farrington is America’s Millennial Money Expert® and America’s Student Loan Debt Expert™, and the founder of The College Investor, a personal finance site dedicated to helping millennials escape student loan debt to start investing and building wealth for the future. You can learn more about him on the About Page, or on his personal site RobertFarrington.com.
He regularly writes about investing, student loan debt, and general personal finance topics geared towards anyone wanting to earn more, get out of debt, and start building wealth for the future.
He has been quoted in major publications including the New York Times, Washington Post, Fox, ABC, NBC, and more. He is also a regular contributor to Forbes.