Student Loan Calculator
Affordability is one of the most important aspects of school loans. The Student Loan Scout loan calculator will help you estimate future repayments in relation to your loan details, which you can access on your “My Account” page. We recommend utilizing this tool to test different loan scenarios to better understand how different rates will affect your school loan.
When utilizing this tool remember that school loan repayment periods typically last between 10 and 20 years, and interest rates vary depending on the loan type and when it is received. Most student loans require minimum monthly payments, though this can vary as well. In some cases, you can shorten the length of your loan and dramatically reduce the interest you will pay by making a higher monthly payment.
You can access the student loan calculator by clicking here .
APR Examples
Understanding student loan interest rates can help you budget your money effectively. Before applying for a student loan, Student Loan Scout recommends reviewing the APR Examples chart to better understand typical monthly payments of school loans as they are affected by different rates, fees and repayment schedules.
For more information on student loan interest rates, click here .
Private Student Loan Eligibility
This tool explains who is generally eligible to receive private student loans, such as students, parents, and other adult sponsors that meet the lender’s criteria. Borrowers generally must be U.S. citizens, nationals, or permanent residents. International students may often apply with an eligible U.S. co-signer or co-borrower. Students that do not meet credit, income, and/or employment guidelines should apply with an eligible U.S. co-signer who meets the guidelines in order to receive financing.
To learn more about your eligibility for a school loan, click here .