A Website Designed to Give You Clarity on Your Student Loans
If you're at all like me, student loans can seem like a foreign concept. The basic premise makes sense: people give you money that you have to pay back. But what else goes into bargain? This website was created because I was tired of going back and forth from website to website just to compare my options.
What does Student Loan Prism do that other loan websites don't? Most student loan calculators only allow you to enter the principal for one loan. If you're still in school or haven't consolidated your loans, you may have multiple loans that all have different interest rates. Our Interest Capitalization & Monthly Payment Calculator allows you to enter principal balances and interest rates for up to 10 loans. The calculator then tells you how much interest will capitalize on those loans and how much the monthly payment will be in total. On that same page, we have another calculator that will help you compare your refinancing options between a few popular lenders. You can also estimate how adding money to your monthly payment can save you time and money. No longer do you have to open up 10 tabs and click back and forth just to find out how SoFi compares to Commonbond.
You can also check out the Newsroom. There, you'll find links to the latest news on student loans.
Some of the content on this website is geared towards law school students and graduates, particularly those at the Harvard Law School. However, the calculators and the information on interest capitalization can be useful for anyone trying to figure out how student loans will affect their financial situation.