Why It's Important to Know Your Payment Options:

• Provides Financial Clarity - A student loan calculator helps borrowers understand their monthly payment obligations under different repayment plans.
• Estimates Long-Term Costs - Borrowers should know how much they'll pay in total over the life of their loan, including interest, which is helpful for planning long-term financial strategies.
• Assists in Comparing Repayment Plans - Using repayment tools, borrowers can learn their various repayment options and understand how payments, timelines, and costs differ between payment plans, making it easier to choose the best fit.
• Projects Savings - For borrowers exploring forgiveness programs (e.g., PSLF or Teacher Loan Forgiveness), repayment tools can help estimate potential savings.
• Helps Manage Budget - By understanding likely monthly payments, borrowers can better integrate their student loan payments into their overall budget and plan for other financial goals.
• You're Not Alone - For many borrowers, federal student loan repayment feels overwhelming. Understanding your program options reduces stress and builds confidence in their ability to manage the debt.