Estimate your monthly student loan payments and overall loan costs.
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Using College Raptor’s student loan calculator will make it easier than ever to uncover just how much students will owe after they graduate college and make the best financial decisions for today and their future.
With increasing college costs, it’s more important these days to understand just how much that degree will cost. And student loan debt won’t be the same from one student to the next. Just by entering some basic information into the student loan calculators, students will have a rough idea of what they’ll need to pay after they earn their college degree.
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Before using our student loan calculator, we highly recommend completing the Free Application for Federal Student Aid (FAFSA). Even if a student doesn’t qualify for federal grants or scholarships, the FAFSA is also used for financial aid from colleges and universities, scholarships, and state grants. By skipping the FAFSA, students and their families can miss out on free money.
We suggest students have their federal loan letter and any financial aid packages in hand before using the calculator to ensure they get a more accurate portrait of their future finances.
There isn’t only one type of student loan – they tend, however, to come in federal or private loans.
Federal loans are offered through the United States Department of Education. There are three types of federal student loans – Direct Subsidized, Direct Unsubsidized, and Direct PLUS loans.
Private student loans are granted through banks, credit unions, and other lending agencies. These have varying amounts and interest rates depending on different factors including the individual’s credit history, credit score, income, and co-signer.
College affordability is another factor that should be considered when it comes to calculating just how much a student will owe after graduation. Different colleges and universities have varying amounts of institutional grant aid available for its students, meaning one college could be more affordable for a student than another.
Some factors that play into college affordability include:
Answer a few questions about your college preferences, your academic information, and family finances and we’ll find you personalized college matches.