Student Loan Repayment Calculator

Published on Aug 15, 2015 12:13 am

Student loans can open a door to higher education for many, but will you be able to repay your loans when they come due after you graduate? As of 2013, the most recent year for which figures are available, nearly 14% of student loans were in default, according to the National Center for Education Statistics.1 Failing to pay your student loan could affect your credit and your ability to borrow money for a home or car. Our Student Loan Repayment Calculator can help you assess your ability to repay your student loan in the future.

Student Loan Repayment Calculator Definitions

  • Anticipated annual income — How much do you expect to earn in the first year after you graduate from college, before you pay taxes on your earnings? Base this estimate on the going rate for someone with your relative skills and experience, and in the geographic location where you expect to live.
  • Original loan amount — The total amount you will owe to the lender after you graduate.
  • Annual interest rate — The annual interest on your student loan, based on the loan agreement between you and the lender.
  • Initial payment period — The number of months over which you are expected to repay the loan.

1 Student Loan Volume and Default Rates

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This article is provided for general guidance and information. It is not intended as, nor should it be construed to be, legal, financial or other professional advice. Please consult with your attorney or financial advisor to discuss any legal or financial issues involved with credit decisions.
Published by permission from, Inc., an Experian company. © 2015, Inc. All rights reserved.

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