Calculating expected monthly payments and likely interest to be paid are important factors in determining an effective budget for paying off student loans. Navient, the nation’s leading loan management, servicing and asset recovery company, today launched an online student loan repayment calculator to help customers better understand how they can pay less interest and payoff student loans faster.
The new interactive tool enables users to model a standard repayment plan that shows how they could save and how much faster they could pay off their loans by paying extra each month. Borrowers can estimate daily and total interest, as well as calculate their debt to income ratio.
“We help more than 1,000 Navient-serviced customers to pay off their loans every day,” said Patricia Nash Christel, vice president, Navient. “This new, free calculator is designed to help any student loan borrower who aspires to achieve that milestone faster and cheaper than ever.”
Explore the Navient student loan repayment calculator at navient.com/repaymentcalculator.