Student Loan Prepayment Calculator
DollarGeek's goal is to help you make the best possible financial decisions. To do this, many or all of the products featured here are from our partners. However, this doesn’t influence our evaluations. Our opinions are our own.
Check out our Student Loan Term Comparison Calculator, it's one of our most used calculators. This calculator will show you your payment structure through different lengths of years. Not quite sure if you should make your student loan term 10, 15 or 20 years? Want to see how your interest rate effects your payments through the years? This calculator will show you how the duration of your loan and interest rate really makes a difference. Enter in some quick numbers and make a wise decision.
FAQs: Student Loan Prepayment Calculator
The Best Student Loan Rates of 2020.
DollarGeek has done the work for you. We’ve sorted through the best student loan lenders and made refinancing your student loan simple. Don’t take the passive approach, start saving thousands by refinancing your student loan today.
2.94% - 5.54%varies on credit
2.99% - 5.69%varies on credit
1.99% - 5.61%varies on credit
2.98% - 5.79%varies on credit
1.88% - 5.64%varies on credit
2.50% – 5.79%varies on credit
1.98% - 8.55%varies on credit
2.99% - 8.77%varies on credit
1.98% - 7.10%varies on credit
2.88% - 727%varies on credit
2.24% - 6.39%varies on credit
2.74% - 6.74%varies on credit
2.99%-5.15%varies on credit
2.25%-4.61%varies on credit
Alright, what does the Student Loan Prepayment Calculator tell me? Why should I care?
Good question. Our student loan prepayment calculator can tell you if adding to your current student loan monthly payments is actually worth it. We get it, your money can go to a lot of places, but, you should see how your savings can stack up if you add to your existing monthly payment. We just show you the numbers, the choice is yours. See if if makes sense.
If I prepay my student loan, whether it's federal or private, will I be penalized?
Nope! Never. It doesn’t matter if you have federal student loans or private student loans, you will not get penalized for paying ahead of time.