College Fund Life Division

Monthly Payments for Repayment of Private Loan

Enter Loan Balance (Without Comma) (including unpaid accrued Interest)
Interest Rate* (Input as XX.X. For example 10.5% is input as: 10.5)
Months to Repay (maximum is 180 months)
or
Monthly Payment is (minimum Monthly Payment is $50.00)

*Interest rate is variable "Prime Rate" plus 2% adjusted quarterly. Use average Prime Rate plus 2% to compute monthly payment.

formula: P=B x ((A x (1 +A)M) / ((1 + A)M -1)
P=Monthly Payment B = Loan Balance A = I/12 M = Months to Repay

Disclaimer:
Repayment calculations are estimates only. Your actual loan payments and interest charges may vary.
This is a level repayment plan and is subject to a minimum installment amount of $50.00 per month on small balances.

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