Student Loan Calculator

Student Loan Calculator helps Plan education costs, contributions, and long-term study-related scenarios.

Equal-payment total interest
244 manwon (₩2,442,273)
Equal-principal total interest
239 manwon (₩2,394,167)

Monthly repayment

18 manwon (₩181,352)

Grace-period interest

3 manwon (₩28,333)

Total repayment

2,244 manwon (₩22,442,273)

ICL monthly duty

28 manwon (₩283,000)

1,752 manwon (₩17,520,000) threshold

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Korea student loan calculator guide

This English page translates the Korean student-loan calculator and calls calculateGeneralLoan, calculateICLRepayment, and compareLoanMethods from the education feature library. Amounts are kept in manwon, the same unit used by the Korean source, and the result is not a value-times-rate stub.

General repayment loan

The general-loan branch separates the grace period from the repayment period. During grace months the calculator shows monthly interest only, then calculates equal-payment or equal-principal repayment over the selected repayment months.

The output preserves total interest, total repayment, first repayment payment, last repayment payment, monthly schedule, and yearly schedule. Those fields are useful when comparing a short repayment period with a long one because the monthly burden and total interest move in opposite directions.

Income-contingent repayment

The ICL branch uses annual income, spouse status, dependents, the Korean threshold-income table, and mandatory repayment logic. The calculator reports threshold income, personal deductions, taxable income, annual obligatory repayment, monthly repayment, projected years to repay, and projected interest.

Because ICL repayment depends on income rather than a fixed amortization schedule, two borrowers with the same principal can have different monthly duties. The English page keeps this branch instead of forcing every loan into one generic annuity formula.

Interpreting the comparison

The comparison view calls the Korean library for equal-payment and equal-principal schedules with the same principal, annual interest rate, grace months, and repayment months. Equal-principal repayment usually starts higher but reduces principal faster.

Actual Korea Student Aid Foundation terms can vary by semester, product, eligibility, and policy year. Use the result as a planning estimate, then confirm current notices, deferment status, and repayment method in the official loan account.