In order to take advantage of this payoff calculator you will need to input all of your student loans into your profile. The student loan payoff calculator is free but you will need to have an account to gain access. Creating an account is what powers the customized results of the payoff calculator. How To Use Our Student Loan Payoff Calculator Step 1īecome a member of FitBUX by creating an account. If you are paying off your loans, be sure to look into refinancing them to see how much money you could save. Also, if you are trying to decide if you should payoff your student loans or use IDR, build your profile and schedule a free call with a FitBUX Coach. If you are looking for an income-driven repayment calculator click here. With our financial planning technology, you can even decide if you want to pay off the high interest rate loans first or the low balance loans!īelow I will show you how to use our student loan payoff calculator as well as illustrate student loan repayment using our innovative financial planning technology. The faster you pay them off the more you save. Our payoff calculator then allows you to allocate prepayments so you can pay off the loans fast. Thus, they can’t show you these savings because you have multiple student loans with multiple rates.įitBUX’s student loan payoff calculator asks you to list out each loan with their specific interest rates.įor example, you may have $120,000 in student loans, but you still may have 10 separate student loans each with a different interest rate. Other payoff calculators ask you for one lump sum student loan with a singular interest rate. Therefore, members on average save $3,000-$5,000 with a simple tweak in their payoff plan by using our student loan payoff calculator. FitBUX members have access to our student loan payoff calculator as part of our free membership.
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