#loan calculator canada
Loan Repayment Estimator
The Loan Repayment Estimator can help you estimate the monthly payments you’ll need to make to repay your Canada Student Loan or other government student loans. All you need to do is type in the settings for your loan.
Enter the total amount of your loan(s), select interest rate and grace period options and decide on the number of monthly payments that you would like to make. The default number of payments is 114 if you take advantage of the 6-month grace period, or 120 if you don’t. You may, however, request an extended amortization period of up to 174 months (with grace period) or 180 months (without grace period) by revising the terms of your loan agreement. Check out Reducing Your Payment for more information. The Loan Repayment Estimator will display your results at the bottom of the column.
You can change and resubmit any of the numbers you enter. If you want to compare different repayment options, enter each set of numbers in its own column and your results will be displayed side by side.
Please enter numbers without spaces or commas (e.g. 15000 or 4.0)