This an online tool provided by many financial institutions that provide student loans to applicants. This tool is designed to help individuals estimate their student loan repayment obligation.
How does it work?
An individual applying for a student loan will start by visiting the website and using the calculator to work out how much they will need to repay.
The loan amount will be the student loan amount that you require to be able to afford the course of study you are pursuing.
The loan term will be the period over which you expect to repay the loan.
Click The Calculator Below To Calculate Your Student Loan
The interest rate will be the rate at which the lender charges you on a monthly basis for the loan.
After filling in the loan amount as well as the loan term, the calculator will out how much you can expect to repay in total for the student loan.
EduLoan, a leading specialist provider of education finance, has a dedicated student loan calculator on its website. Founded in 1996, EduLoan has been providing some much-needed funding to individuals who seek to further their studies, but are unable to do so due to a lack of finance.
This particular calculator also gives you the option of selecting the institution at which you’ll be studying.
Various banks in South Africa also have student loan calculators.