Loan Payoff Calculator
When my husband graduated from college in 2013, he had almost $100k in student loan debt. We realized that paying these loans over the standard 15 year time period would result in a much larger total than $100k and ultimately impact the timing of many of our life decisions. So we put together an aggressive plan to send any extra money we had to these loans. We sent our last loan payment around 3 years after we started and ultimately saved about $40k in interest!
The average college graduate now has upwards of $37k in student loan debt. Money is generally a well-avoided topic in our society, and as a result, many graduating students are not aware of the positive impact they can have on their own savings by making small changes to their budget. This app hopes to change that.
The purpose of this app is to encourage people to take control of their financial future by showing the impact of early loan payoff in terms of time and money savings.
This project was built with Create React App.