Don't you hate it when people tell you to "do the math"? Never my favorite subject, I tend to shy away from "doing the math" whenever possible.
But when it comes to borrowing money for college, some number crunching is inevitable. Figuring out how much you need to borrow and what your monthly payments will be are the basics that every borrower should know.
Fortunately, you don't have to go it alone. We've made it easier for you come up with the figures you need with some online calculators.
Using this link, you'll not only be able to calculate the basics, but you can also figure out the tougher stuff, like how much interest you can save on your student loans by repaying some of your outstanding balance at repayment or by making larger monthly payments.
You can also use our calculator that helps you determine how much student loan debt you can afford based on your expected starting salary upon graduation. It's a good reality check that can help you remain frugal
and focused on repayment throughout college.
February 1, 2012 11:47 AM | Reply
My usual answer to someone telling me to "do the math" is to respond with "I don't do math...that's why I become a writer."
February 2, 2012 9:32 AM | Reply
Apparently, I need a proofreader, too. Please replace the word "become" in my previous post with "became." Thank you.