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Important Note: You may use the Loan Benefits Program Calculator without logging in or registering. However, you will not be able to save your information. If you would like to enable the save functionality, you must first Log-in or Register.

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Many banks offer one or more of the following benefit programs to students taking out educational loans. Taking advantage of these programs can be an excellent way to save money on your loan repayment. Auto-Debit You can receive a lower interest rate from many lenders by authorizing them to automatically deduct your payment from your bank account each month. This reduction is typically 0.25%. On-Time Payments - Credit/Cash Back Many banks offer a refund of a portion of the origination fee after you make a set number of on-time payments. A typical offer would be a refund of the 3% origination fee (less $250) after 24 on-time payments on a Stafford loan. On-Time Payments - Interest Rate Reduction With most banks, if you make the first 24 to 48 payments on time (the number varies by bank), you will be eligible receive an interest rate reduction for the remaining term of the loan. This calculator will allow you to find out just how much you may be able to save if you take advantages of these opportunities. You must check with your bank regarding the availability of these offers.
Amount of Loan:		$
Annual Interest Rate:			%
Term of Loan:			Years
Minimum Monthly Payment:		$
Auto-Debit
	Rate Reduction:		%
On-Time Payments - Credit/Cash Back
	Months on Time:		Months
	Origination Fee Discount:		%
	Value Deducted from Credit:	$
On-Time Payments - Interest Rate Reduction
	Months on Time:		Months
	Rate Reduction:		%