Sentences with phrase «average interest rate calculator»

Use the Weighted Average Interest Rate Calculator to determine your interest rate when consolidating federal student loans with a Direct Consolidation Loan.

Not exact matches

An undergrad who borrows $ 37,000 — and that's less than the national average for 2016 graduates — and has an interest rate of 4.45 percent will pay $ 8,908 in interest over 10 years, according to NerdWallet's student loan calculator.

For credit cards, interest is usually accrued daily or based on the average daily balance, but most credit card calculators estimate the monthly interest by assuming that (1) the balance is constant and (2) the interest rate is the annual rate divided by 12.

Using the interest rate of a Federal Stafford Loan (4.66 %), the 2012 average student loan debt, and an estimated payment of $ 300 / month, I used this student loan calculator from BankRate to estimate how long it would take to repay the average student debt.

Based on these figures, our debt calculator says that at a payment of $ 750 per month, with an average interest rate of 25 %, you would be debt free in approximately 87 months, which equals out to just over 7 years.

To see how a credit score impacts average interest rates, check out the Loan Savings Calculator from myFICO.com.