Ever wonder how an extra $10, $20, or $50 each month could impact your repayment? By making a small, additional monthly payment, you can pay off your loan faster and see great savings in interest over the life of the loan. Use our Loan Repayment Calculator to help estimate your potential repayment time and interest savings.
This additional monthly payment amount may reduce the balance on your loan, which results in a reduction in the total amount of interest you will pay, allowing you to pay your loan off faster. Add as little as $5.00 each month, and you can shave off more than half a year on a $10,000 loan; an additional $10.00 each month could save you nearly $500 in interest on a $25,000 loan!*
Find the additional amount that works best for you by revising the “additional dollar amount” section in our repayment calculator, and you can fine tune your additional payment to the amount which fits your budget best.
Give it a try - see the difference a few dollars can make!
* Above examples are based on a 120-month repayment term and a 6.8% interest rate.
Try the Loan Repayment Calculator