Interest While in School

Discuss various money matters here. Loans (federal and private), scholarships, lottery winnings, or other school finance related information and queries.
nickat
Posts: 4
Joined: Fri Mar 01, 2013 2:52 pm

Interest While in School

Postby nickat » Fri Jan 17, 2014 8:21 am

My parents are considering helping me out by paying interest on my loans while I'm in school. This would allow them to help me significantly without leaving me depending on them. So, if they have an unexpected expense come up, I'm not left making really tough choices (like food vs books).

I'm trying to estimate what the quarterly statements will be for each quarter. Has anyone done this? If so, any suggestions on how to do it efficiently? There are 12 separate loans that need to be taken into account, so I'm picturing a pretty complex spreadsheet to c rebate the schedule.


If anyone has created a spreadsheet like this that they'd be willing to share, or has any tips, I'd really appreciate it!

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guano
Posts: 2268
Joined: Mon Feb 18, 2013 9:49 am

Re: Interest While in School

Postby guano » Fri Jan 17, 2014 10:13 am

nickat wrote:My parents are considering helping me out by paying interest on my loans while I'm in school. This would allow them to help me significantly without leaving me depending on them. So, if they have an unexpected expense come up, I'm not left making really tough choices (like food vs books).

I'm trying to estimate what the quarterly statements will be for each quarter. Has anyone done this? If so, any suggestions on how to do it efficiently? There are 12 separate loans that need to be taken into account, so I'm picturing a pretty complex spreadsheet to c rebate the schedule.


If anyone has created a spreadsheet like this that they'd be willing to share, or has any tips, I'd really appreciate it!

That'd be a rather simple spreadsheet. I'll see if I have time to knock it out in a little bit.

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guano
Posts: 2268
Joined: Mon Feb 18, 2013 9:49 am

Re: Interest While in School

Postby guano » Fri Jan 17, 2014 10:33 am

http://www.filedropper.com/simplecalculationforinterestpayments

This is very basic, but will serve your purpose perfectly fine (which is to guesstimate the quarterly payments). Please let me know if you need an explanation




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