If you take a student loan for your study, the most common problem is the payment after you graduate from your university. After you graduate, you have to find a job soon, because you are obligated to pay your debt of student loan during your study. In looking for a job, you also have to be careful because it relates to your payment. So, what you need is that you have to be able to

estimate student loan payments so that you will not be shocked about it.

## The Importance of Understanding to Estimate Student Loan Payment

Why is it important to know how to

**estimate student loan payment**? Of course, it is because you can manage your money easily. The greater your salary, the greater your student loan payment. The payment is commonly up to ten percent of your salary. So, you still have the remaining money to live. By knowing this, you can easily manage your money because you have so many needs besides the student loan payment. Make sure that your salary will still be enough for you after being deducted from the amount of a student loan payment.

#### How to Estimate Student Loan Payment

There are two ways to know the

**student loan payment estimation**. The first way is by calculating it by yourself. How can you do that? Of course, you have to know how much the rate of your bank that you choose to take a student loan. After you know the rate, it is possible for you to calculate the payment. The longer the tenor, the lower the payment per month. However, it will be much higher for the total amount of the payment.

The second way is by a student loan payment estimator. It is an

**online application** that you can use to calculate your payment. You can try it online. There is the guidance to try it. This way is easier than the first one. The first one requires you to calculate the payment manually. On the other hand, the payment estimator allows you to calculate it automatically. Of course, most students or graduates prefer the automatic way to the manual one.

Paying off the

**student loan** should be monthly. It means, you

**may not decide** the date you will pay. You cannot pay at the time you want. So, you have to pay it gradually even though, it may be, you do not receive your salary monthly. In fact, there are some companies that pay the salary daily, weekly, every two weeks, every four weeks, and monthly. Even more, if you work on a project, you will receive your salary based on the project you get.

What you have to realize is that student loan is one of the best

**financial solutions** for your study. However, you must be capable to estimate student loan payments. Do not ever take a student loan if you are careless about it. So, use this easiness well and hopefully this can be useful.

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