WEST CHESTER, Pa., November 16, 2022 /PRNewswire/ — Over the past decade, the AccessLex Student Loan Calculator has been the primary resource for hundreds of thousands of aspiring, current and recent law students looking to calculate their potential student loan debt and plan for repayment. Free and easy to use with no login required, the calculator now includes several new features that help law student borrowers better understand the financial realities of their degree.
The calculator helps users identify how much they might need to borrow in federal student loans based on the cost of attending their school, their projected expenses, and projected resources such as scholarships and grants. It also shows users how different student loan payments can fit into their budget and how much interest they can save with increased payments.
New features include:
- VSConsolidation and refinancing tool which educates users on the costs, advantages and disadvantages of private refinancing and federal consolidation loans;
- PSLF Calculator which projects the amount that can be canceled under the cancellation of public service loans for users interested in this option; and
- Repayment plan change tool which helps borrowers in repayment analyze the financial impact of changing their repayment plan, both in terms of monthly payments and total amount paid.
Lessons and educational content are woven throughout the calculator to help student borrowers know their options and make more informed decisions about their finances.
“With all the changes in the student loan landscape, it was imperative that the AccessLex student loan calculator reflect the current repayment options available to borrowers, including civil service loan forgiveness and consolidation options” , said Cynthia Cassity, Senior Vice President for Strategic Engagement, AccessLex Institute. “With this resource, and with coaching through our free service AccessConnex Student Loan Helplinesignificant support is available to law students throughout their legal education. »
Discover the new AccessLex Student Loan Calculator.
About the AccessLex Institute®
AccessLex Institute is a non-profit organization committed to helping talented and motivated students find their path from aspiring lawyer to accomplished professional. In partnership with its nearly 200 member law schools, improving access to and positively influencing legal education has been central to the Society’s mission since 1983. To learn more, visit AccessLex.org.
CONTACT: Julie Solomon, [email protected]
SOURCE AccessLex Institute
