Education Loan Repayment Calculator
This Education Loan Repayment Calculator helps you estimate your monthly EMI (Equated Monthly Installment) and the total repayment amount for an education loan based on principal, interest rate, and loan term.
Student Loan EMI and Total Repayment Calculator
Education Loan Repayment Formulas
$$EMI = \frac{P \times r}{1 – (1 + r)^{-n}}$$
$$\text{Total Repayment} = EMI \times n$$
Where:
- $$P$$ = Principal loan amount
- $$r$$ = Monthly interest rate (annual interest rate divided by 12)
- $$n$$ = Total number of monthly payments
- $$EMI$$ = Equated Monthly Installment
- $$Total Repayment$$ = Total amount repaid over the loan term
The Education Loan Repayment Calculator helps students and borrowers estimate how much they will need to pay monthly and in total for their student loans. It provides clarity on financial planning during repayment periods and helps compare different loan options and terms.