calculate student loan repayment in excel with payments

All rights reserved.Īll FICO ® Score products made available on include a FICO ® Score 8, and may include additional FICO ® Score versions. Hopefully this post made sense, and I'm not breaking any rules by trying to upload a file.Ĭopyright ©2001- Fair Isaac Corporation. I know step one is to add a few more years, as a lot of people may not be able to pay off their student loans that fast. If people want to download the file (once I find out where to upload it), I can take suggestions, and modify it to help out more people.

I made this file specifically for my use, so I know it has its limitations, but this community has helped me out a lot, so if I can help out on person, then its worth giving back to the community. If somebody can tell me where, I can upload the file tonight, so people can look at it. I don't know where I can host an excel file from.

If you are paying more than the minimum, and paying the extra towards your highest balance, then your interest rate will go down, so I though it would be cool to track. I also put a spot for interest rate tracking, so you can follow the changes in your interest rate. Key in the amount of the loan, and the interest rate, and it computes your average. There are some limitations to the spreadsheet. I have some subsidized loans right now, which the excel spreadsheed doesn't know are subsidized, so I will really get ahead in the next 5 months. The information is automatically pulled from sheet 1, so it will tell you if you are behind or ahead, and by how much. Then the scheduled balance is listed, and you key in the actual balance from your student loans. On page 2 I have the scheduled payment listed, and you can key in your actual payment. This is somthing that online calculators just can not do. In my case, I want my payment to go up 3 years from now, since I will no longer have a car payment. What is nice about this way, you can test certain payment plans based on your needs.

All you have to do is key in the payment. If you key in the original amount, and the interest, the excel spreedsheet does just about everything else for you. I made a spreadsheet to track my progess, and I think some people in this community might find it usefull. The first question I had was if my goal was realistic, and I wanted a way to track my progress to see if I was on track, or behind, and how much. I had goal to pay my studnet loans off in 5 years.

Calculate student loan repayment in excel with payments