You must be thinking, what the heck is a student loan payment calculator and where do I find one? Have they actually manufactured a special calculator just for student loans? Before you head to the student book store, let us be clear that to date there is no student loan calculator on the market. It is simply a software program for student borrowers to give themselves an idea on how they will manage their loan repayments.

In order to get a clearer picture of what a student loan calculator does, you must fully familiarize yourself with the concept of a student loan. A student loan is basically a form of financial funding in order for college students to pursue their dreams of getting their most coveted college degrees.

Such kind of financial help can come from a variety of lenders and they also come with different sets of terms and conditions, interest rates and repayment terms. Because of this, the student borrower must plan ahead on how the regular monthly repayments of his student loans will be structured. Think of the loan payment calculator as a repayment planner for student debts. In fact there is no difference between a regular loan payment calculator and one used just for student loans.

To get an estimate of how much your regular student loan payments will be, the repayment planner for student debts/payment calculator will compute them for you based on the variables present. These three variables will come in the form of the principal loan amount (total money borrowed), loan interest rates that apply and the payment terms or number of monthly repayments the borrower is willing to make in order pay the loan in full.

Once the three variables are taken into consideration, the loan payment calculator will give a helpful approximation of how much your monthly loan repayments should be. Remember this is just an estimate to help you in your planning for loan repayments.

The loan repayment calculator will also give you an idea of how much the actual interest charges you are paying and how much your targeted minimum salary should be in order to have sufficient cash flow ri live on and still make your payments.

There are a lot of good loan repayment calculators you can choose from online. There are many easy to manage programs which will help you get a bigger picture of personal loan management. If you find that you still have some questions you have regarding your student loans, it is best to meet up with your loan servicing institution or loan provider to get an accurate estimate of your loan payment schedule.

So despite all the hype there really are no student loan payment calculators. If find someone who is selling one then you should assume it is a scam. You can get all the loan payment estimates by just using an on line loan calculator.