use excel to calculate student loan repayment

Fee structure from the institution is a must.The banks require additional documents such as admission letter of the institution.The applicant should have his Class X, XII and graduation (if applicable) mark sheets ready.The applicant must have completed his higher secondary level schooling.The applicant must be an Indian citizen.In addition to these factors, you must also look at the following points. Principal amount, tenure, and the rate of interest, any change in these variables may result in a change in theĮMI amount. There are several factors which affect the EMI calculation of the education loan. You get a clear picture of the amount of education loan you have repaid and the outstanding loan amount in The amortisation schedule gives you the breakup of the principal and the interest repayments on a monthly basis. Instalment) amount that you must give the bank each month, to repay the education loan. Once you fill in the details, the calculator will display the EMI (Equal Monthly The education loan EMI calculator consists of a formula box and three sliders showing the loan amount, loan The education loan EMI calculator shows you the accurate monthly repayments, The EMI you will pay the bank depends on the amount you borrow, the interest rate which is charged by the bank,Īnd the duration of the loan. If you enter the education loan amount, interest rate and the duration of the loan, theĮducation loan EMI calculator will show you the education loan EMIs in seconds. The education loan EMI calculator is a simulation, which shows you the education loan EMIs you must pay the

What is an Education Loan EMI Calculator? The lender would cover the common expenses like a caution deposit, lodgingįees, travel expenses, and even the purchase of a laptop or books. It is payable even after youĬomplete the educational course. You don’t need to pay the EMIs on your education loan, right from the first month. You can avail ofĪn education loan from a bank or an NBFC and give your children a quality education, either in India or abroad. You might even aspire to send them abroad for higher studies, which would cost a lot of money. The cost of education is rising and you may not have the funds to provide quality education for your children. Principal component of the education loan.

As you repay the education loan, a higher portion gets adjusted towards the

In the starting years of your education loan, a major portion of your repayment goes towards the interest The EMIs are generally fixedĪcross the complete tenure of the education loan. Is the total amount you pay each month until you repay the entire education loan.

The Education Loan Equated Monthly Instalment or EMIs are made up of the principal and the interest portions.

Use excel to calculate student loan repayment