Loan Discount Analyzer
Below are examples of the impact one repayment benefit, an interest rate reduction, has on the loan repayment term and amount. For a current calculation, using a specific loan amount, visit http://www.finaid.org/calculators/loandiscountanalyzer.phtml.
| Estimated Savings with $31,000 Loan without interest rate reduction | |
|---|---|
| Interest Rate: | 6.80% |
| Monthly Payment: | $356.75 |
| Total Payments (P&I): | $42,809.88 |
| Total Interest Paid: | $11,809.88 |
| Number of Payments: | 120.0 |
Estimated Savings with $31,000 Loan without interest rate reduction
Interest Rate: 6.80%
Monthly Payment: $356.75
Total Payments (P&I): $42,809.88
Total Interest Paid: $11,809.88
Number of Payments: 120.0
| Estimated Savings with $31,000 Loan with .25% interest rate reduction at repayment | |
|---|---|
| Interest Rate: | 6.55% |
| Monthly Payment: | $356.75 |
| Total Payments (P&I): | $42,142.68 |
| Total Interest Paid: | $11,142.68 |
| Number of Payments: | 118.1 |
Estimated Savings with $31,000 Loan with .25% interest rate reduction at repayment
Interest Rate: 6.55%
Monthly Payment: $356.75
Total Payments (P&I): $42,142.68
Total Interest Paid: $11,142.68
Number of Payments: 118.1
| Estimated Savings with $57,500 Loan without interest rate reduction | |
|---|---|
| Interest Rate: | 6.80% |
| Monthly Payment: | $661.71 |
| Total Payments (P&I): | $79,405.43 |
| Total Interest Paid: | $21,905.43 |
| Number of Payments: | 120.0 |
Estimated Savings with $57,500 Loan without interest rate reduction
Interest Rate: 6.80%
Monthly Payment: $661.71
Total Payments (P&I): $79,405.43
Total Interest Paid: $21,905.43
Number of Payments: 120.0
| Estimated Savings with $57,500 Loan with .25% interest rate reduction at repayment | |
|---|---|
| Interest Rate: | 6.55% |
| Monthly Payment: | $661.71 |
| Total Payments (P&I): | $78,167.88 |
| Total Interest Paid: | $20,667.88 |
| Number of Payments: | 118.1 |
Estimated Savings with $57,500 Loan with .25% interest rate reduction at repayment
Interest Rate: 6.55%
Monthly Payment: $661.71
Total Payments (P&I): $78,167.88
Total Interest Paid: $20,667.88
Number of Payments: 118.1