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Financial Calculators

You can gain insights into your financial options using online tools that factor variables to consider when looking for a loan. Use financial calculators to help you understand financial aid packages; explore your consumer loan payments, principal and interest rate; compare monthly mortgage payments; and get estimates based on your actual Social Security earnings record. While these tools are helpful, remember it also helps to get sound financial advice from your bank or credit union.

couple assessing finances on computer

Consumer Loan Calculators

Military OneSource has assembled calculators to show you ways to pay off debt and help you better manage life’s financial decisions. These calculators can help you take a first step toward making sound financial decisions but remember that the results are only estimates. Types of calculators available include car payments, debt elimination, credit card pay off, and interest rate calculators.

College Savings Calculator

The U.S. Department of Education’s College Affordability and Transparency Center makes it easier for you to search for a college that is a good fit for you. You can use the College Scorecard to find out more about a college’s affordability and value so you can make better decisions about which college to attend. You can find scorecards for colleges based on factors such as programs or majors offered, location, and enrollment size.

Retirement Estimator Calculator

The Social Security Administration’s Retirement Estimator calculator provides estimates based on your actual Social Security earnings record. Other useful links from this calculator include estimating your life expectancy and guidance on the best age to start receiving retirement benefits. You can use the retirement estimator if you have enough Social Security credits to qualify for benefits and you are not:

  • Currently receiving benefits on your own Social Security record
  • Age 62 or older and receiving benefits on another Social Security record
  • Or eligible for a pension based on work not covered by Social Security
Two seniors on laptop

Mortgage Loan Calculator

These homeownership and mortgage loan calculators, from Freddie Mac, will help you understand the financial differences between renting and homeownership.  You can also calculate how much you can borrow or afford, understand the financial differences between fixed- and adjustable-rate mortgages, estimate closing costs, or learn how a different term (for example, a 15-year vs. 30-year term) affects your mortgage payment and overcall cost of the loan.

Last Modified on 12/03/24