topic Re: Loan Calculator in Student Loans

Loan Calculator

Anonymous — Wed, 31 Dec 2014 03:58:11 GMT

I'm sure it's simple, but I haven't found an online calculator that I like to compare loans after extra payments are applied. Monthly payments and rate stay the same. Ideally i'd like to see a comparision of current balance and payment schedule vs large extra payment to show me how much interest is saved as a motivator.

Re: Loan Calculator

Anonymous — Wed, 31 Dec 2014 13:57:55 GMT

This is the best I've found. http://www.bankrate.com/calculators/mortgages/loan-calculator.aspx

Re: Loan Calculator

Anonymous — Wed, 31 Dec 2014 16:54:17 GMT

Perfect! I was using other loan comparison calculators, but sometimes the numbers didn't look right. This will at least give me the rough ballpark I was looking for with the added payment. Based on the numbers from the calculator, the difference in interest saved was totally worth the large payment.