What Is an Education Loan EMI Calculator?
An education loan EMI calculator is a specialized financial tool that helps you determine your monthly payment obligations for an education loan. Unlike basic loan calculators, Kuhoo's student loan repayment calculator offers multiple payment structures tailored specifically for education financing, considering the unique career progression patterns of students and young professionals.
The Ultimate Student Loan EMI Calculation Tool with Four Flexible Repayment Options
Calculating your education loan EMI shouldn't be limited to just one payment option. Kuhoo's advanced Education Loan EMI Comparison Tool goes beyond standard calculators by offering four different student loan repayment structures, helping you find the perfect balance between affordable monthly payments and financial efficiency
How to Use Our Student Loan EMI Calculator Tool
Our education loan comparison calculator provides instant, accurate calculations for four distinct repayment options:
1. Partial Interest Payment Option for Education Loans
What it is: You pay only a small part of the interest in the beginning years. This means much smaller monthly education loan payments when you're just starting your career. The unpaid interest gets added to your loan amount, and after this initial period, your payments will increase. How it's calculated: During the partial interest period, your monthly payment covers only a portion of the interest charges. The unpaid interest is added to your principal amount.
Monthly payment formula:
- Partial Interest Period: Monthly Payment = Loan Amount × Interest Rate × Partial Interest Percentage ÷ 12
- After Partial Interest Period: Calculated using standard EMI formula with the new (higher) principal
Example: For a ₹5,00,000 education loan at 10% interest for 10 years with 40% partial interest for the first 2 years:
- First 24 months: ₹1,667 monthly payment (vs. ₹6,608 standard EMI)
- Remaining 96 months: ₹7,238 monthly payment
- Total interest paid: ₹4,01,344 (vs. ₹2,92,926 with standard EMI)
