Last week, ConsumersAdvocate.org reviewed our student loan assessment tool, and we’re summarizing their findings for you here.
Described as a “one-of-a-kind loan assessment calculator” that is “simple, easy and systematic,” the tool is designed to help organize your student loan debt for free.
For the majority of young Americans who struggle paying back student loans, this tool is a quick 20 minute way for you to compare all of your repayment options before deciding on how to pay it back, all while saving you money in the process.
The most important benefit of the tool? It’s completely free to use. Borrowers will simply enter their loan, education and financial information, and we’ll provide estimates of monthly payments, forgiveness potential and out of pocket costs for all of their options – both federal and private.
Who can use the tool? Everyone! Especially medical students, because the resident feature allows residents to enter all of their current information, including how long they’re in training and their expected starting salary, and the tool will provide projections based on that information.
Interested in trying it out for yourself? Check out the free student loan assessment tool.