Enter a loan total you already have, an interest-rate assumption, and a term. The page returns an estimated monthly payment and, if you enter income, that payment as a percentage of the income you typed. That percentage is illustrative. It is not a formal debt-to-income ratio and it is not a recommendation to borrow.
This is not financial advice and not a lender comparison. It does not choose a loan product. For award-letter gift aid versus loans, start with the award letter decoder. For a four-year ranking of entered school costs, use the four-year college cost comparison calculator.
Visible assumptions
- Fixed annual rate you type, applied monthly.
- Level payments over the term you type.
- No origination fees, capitalization events, or income-driven plans.
- Income, if entered, is whatever monthly figure you supply.
Numbers you enter
Estimate
Estimated monthly payment
$0
Enter monthly income if you want an illustrative payment-to-income percent.
Copy the estimate
Copy turns on when principal and term are greater than zero.