FREE Student Loan Calculator
by: Joe Cook • 1
"FREE, NO ADDS, 2 LOAN VERSION"
Snowball Multiple Loan Debt Erasing Reducing Calculator. Uses the roll down method. Can use on credit cards and student loans primarily. Also can be used as a financial mortgage auto and car loan calculator. Pay minimum payment on all loans and remainder of budget to the highest interest loans, which are listed from top to bottom. The interface is What You See is What You Get. Meaning no need for menu's everything needed is right on the screen. Easy to see and use. Also only one dynamic page, making it easier to adapt to new app.
- Note, that this calculator might be off by a month, compared to other apps, software, websites, and spreadsheets,mostly because i used 365.25 as a year to include leap year , and divided the same by 12 for the monthly cycle, to make more accurate, although realistically it would be very difficult to match exactly with the lender, by compounding interest daily, due too Processor speed of smart phones and PC's
-This APP is a great learning tool for those wanting to goto college, and having your first meeting with financial aide. Also trying to get out of debt with credit card lenders.
*******WARNING If you make Payment 1 less than interest only payment, your phone will freeze for quite a while, since the answer to payoff will be a very long time. So put realistic info in the loan fields. Your goal is to make interest only payment on ALL LOANS but payment 1 should be MORE than interest only payment.*******
Credit card calculator
Student loan calculator
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