Mapping Your Future: New calculators help student loan borrowers manage repayment



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New calculators help student loan borrowers manage repayment

By Beth Ziehmer

November 07, 2019

Anyone considering refinancing their student loans should determine how a refinance will impact their repayment.

https://mappingyourfuture.org/images/newsrm/MappingYourFuture-Refinance-Calculator.PNG

This fall Mapping Your Future released two new calculators to help student loan borrowers determine if refinancing their students loans is good for them.

  • The Refinance calculator allows users to compare monthly payments and total interest paid for their current loan(s) to those amounts with a refinancing offer.
  • The Weighted average interest rate calculator is offered in conjunction with the Refinance calculator to allow users to first calculate the average interest rate of their loans.

Mapping Your Future’s other calculators also can be important tools in a school’s default prevention plan or in-person loan counseling. The calculators include:

Schools are encouraged to link to the calculators from the school’s website. Schools who are Participating Members or located in a Sponsored state can take the calculators to another level by integrating the calculators into their website, if desired.

Contact the Mapping Your Future staff at feedback@mappingyourfuture.org or (800) 374-4072 with any questions or to request documentation on integrating the calculators.