Our free online loan calculators generally fall into one of four types: those that can help you with new loans, those that can help you make better decisions if you already have a loan, those that deal with specialty type loans or credit cards, and those that can help college students and / or parents planning for college tuition.

**simple monthly loan calculator** to figure out your monthly loan payment. The results of the calculator also include the total of all payments, and the interest paid over the life of the loan.

**loan comparison calculator** to figure out your monthly payments for 2, 5, 7, and 10 year personal loans. The calculator allows you to input a variety of interest rates for each loan term. The results include your monthly loan payment, total payments, and the total interest paid on each loan.

**loan APR calculator** to estimate the effective interest rate on a personal loan. The calculator uses out of pocket costs associated with an application and other fees to figure out an effective monthly payment on the loan. Based on that new payment, the APR on the loan can be determined.

**debt-to-income ratio calculator**, also referred to as a DTI calculator, to figure out if you might be at risk of carrying too much debt or if you qualify for a loan of a given size. In general, lenders apply certain rules when evaluating someone that has applied for credit. The calculator performs both front-end, as well as back-end debt-to-income calculations.

**loan cost calculator** to estimate the cost of the loan in terms of fees and points. The calculator leverages the fact that annual percentage rate, or APR, is determined using out-of-pocket costs associated with the loan. The closer the quoted interest rate is to the APR, the lower the fees.

**loan payoff calculator** can be used to estimate how much money you can save, as well as the number of months saved by increasing your monthly payment beyond your regularly scheduled amount. This loan payoff calculator uses the initial loan amount, the terms of the loan, and the additional payment, to calculate the dollars, as well as time, saved by adding money to each payment.

**emergency fund calculator** is used to estimate how much money should be set aside to pay for financial emergencies. The calculator takes the total of all essential living expenses, and uses this information to determine the size of a minimum and optimum emergency fund. From this value, the calculator subtracts any money already set aside for this purpose to determine the additional savings required to meet this need.

**loan amortization table calculator** to tell you how much money you still owe on a personal loan. This calculator accommodates amortization tables of up to ten years, and will show you the remaining principal on the loan based on the amount borrowed and the term of the loan.

**refinancing a personal loan**. The calculator uses information about an existing loan, along with the refinancing option, to determine the total cost of each loan. These two values are then used to calculate the dollars saved by refinancing.

**wage garnishment calculator** to estimate the amount of dollars withheld from a paycheck. The calculator follows both the U.S. Department of Labor as well as the Department of Education's wage garnishment guidelines to calculate the impact on the debtor's pay. The calculator considers gross pay, income taxes, as well as mandatory payments in the calculation of the wage garnishment value.

**interest-only loan calculator** to figure out your monthly payments, if you decide to take out an interest-only loan. Although this type of loan is more common with mortgages, consumers can find lenders willing to write these kinds of loans to meet a variety of financing needs.

**consolidation loan calculator**. This tool is designed to help you figure out if a debt consolidation loan is right in your situation. The calculator uses your outstanding debt balances, and existing monthly payments, to figure out the impact of a consolidation loan on your monthly budget.

**credit card payment calculator** to figure out what your minimum monthly credit card payment might be for each of the major credit card issuers. You can use one of our other loan calculators to figure out how quickly you can pay off a credit card balance.

**credit card payoff calculator** can help you figure out how long it will take to pay off your credit card balance. The calculator even helps you to figure out how much you can pay each month to reduce the balance faster than scheduled. The calculator uses credit card balances, interest rate, and recurring charges along with a timeline target, to determine the payoff value.

**credit card comparison calculator** allows you to compare competing offers from two credit card companies. The calculator evaluates your monthly card balance, annual fees, and introductory rates to calculate the cost of each credit card as well as the effective interest rate charged.

**family budget calculator** helps you to figure out how your family expenses compare to an average family's expenses. Using information from the Bureau of Labor Statistics, this calculator allows you to input your monthly or annual expenses in each of 14 different categories, the calculator then figures out the percentage spent in each category and compares your budget to the national average.

**debt ratio calculator** to figure out if you might be at risk of being denied a loan. In general, lenders apply certain rules when evaluating someone that has applied for credit. In the mortgage industry, they use a rule of 32, which states that the total of all your monthly debt payments cannot exceed 32% of your monthly income. When debt ratios approach 40%, the chances of being denied credit or a loan are high.

**debt reduction calculator** can be used to estimate how much money you can save, as well as the number of months saved, by increasing the amount of money paid toward reducing your debt. This debt reduction calculator uses the debt owed, annual interest rate on debt, and the additional debt payment, to calculate the dollars, as well as time, saved by adding money to each payment.

**lump sum debt reduction calculator** can be used to figure out how much money you might be able to save, and the number of months that are eliminated, by making a one-time, lump sum payment. The calculator uses the current debt owed, annual interest rate on debt, monthly payment, and the lump sum, to calculate both the dollars and time saved by making this one-time payment.

**student loan payoff calculator** to estimate how long it will take to pay off your student loans. Using the interest rate and outstanding student loan amount, the calculator will tell you the number of months it will take to pay off the loan at a given monthly payment amount.

**student budget calculator** to determine the difference between a student's expenses and sources of income. Ultimately, the calculator can be used to figure out if a student needs to borrow additional money to meet their financial obligations.

**simple college cost calculator** to estimate how much it will cost to attend a college or university at a future point in time. This calculator uses the current college cost, years until matriculation, and an estimate of the annual increase to project future college costs.

**college fund calculator** to estimate how much a college education will cost in the future. The calculator will also determine if you're saving enough money for college. Finally, the calculator also figures out how much you will have in your college fund each year to pay for tuition, room, and board.

**value of a college degree**. By entering the cost of a college education, along with your expected salary after college or high school, the calculator will tell you how much a college degree is worth.