We are pleased to announce the release of our latest development – the Student Loan Calculator.
The Student Loan calculator allows you to clearly illustrate the remaining term left to pay off a student loan on the current repayments as well as providing the ability to target a term or add additional overpayments to see the impact this will have.
The results will clearly illustrate if the student loan will be cleared or written off and the repayments left until this date. The comparison confirms how much could be saved from making additional payments or whether it is not worth the additional payments.
The calculator includes the following features:
- Simple Data Entry – With only five inputs required you can produce comprehensive results.
- Include future Promotions and Bonuses –Additional optional inputs allow you to increase the salary, include current overpayments, any possible promotions and bonuses and override the increase rates used.
- Straight forward results – Immediately see if there is a likelihood of clearing the loan, with summary notes confirming the total paid over the remaining term.
- Impact of additional overpayments – Add additional overpayments in the results to see the impact that these will have on the term and total paid compared to the current position.
- Target the repayment term – Find out what additional monthly overpayments are required to clear the loan in a set timeframe.
- Year on year breakdown – We also provide a breakdown year on year within the results section of the calculator.
- Clear Graphical Outputs – On the results you will see a chart illustrating the value of the loan year on year and the total value of any repayments made.
- Comprehensive Report – The client friendly comprehensive report includes a clear and concise graphical analysis that can help you assess the clients loan. The report as always can be branded with your company logo and colour scheme.