When you borrow money for college, you’ll pay it back later, plus interest. This means you’ll actually pay back more than you initially borrowed. A higher interest rate and/or a longer loan term means your loan will cost you more overall.
Granite Edvance’s mission is to provide you with the best possible loan to help you meet your goals. Since we’re a nonprofit, our loans are often very competitive.
Use the Student Loan Calculator to figure out how much you may pay per month and in total. Plug in the amount of money you’re looking to borrow, your interest rate, and the length of your loan. Try different numbers to see how small changes can make a big difference!
Try increasing the “Minimum Monthly Payment” value and recalculate to see what affect this increase has on the number of payments, and total interest paid over the life of the loan.
Student Loan Calculator