DevMountain Monthly Payment Calculator
Calculate monthly payments
- Choose how much you want to borrow for tuition and living expenses.
- Try different interest rates to see the possible monthly payments (depending on your FICO score).
- Select the length of time you’d like to pay off the loan.
- For full-time loans: your loan can include either six months of interest-only payments during your program and 36 months of principal and interest payments after your program, or it can include six months of full deferment during your program and 36 months of principal and interest payments after your program.
- For part-time loans: there is no interest-only or full deferral period. Students pay 36 months of principal and interest payments during and after your program.
How do we calculate DevMountain's monthly student loan payments?
One unique feature Climb has is that several of our loans involve either initial, interest-only (“IO”) payments or full deferment (with no payments due, but interest accruing) before full repayment begins. This means that your first months will consist of lower payments which include only the interest portion of your loans, or no payments. This allows you to fully focus on the program you’re pursuing.
After that, the second portion of your loans consists of principal+interest (“PI”) payments, which include the remaining part of your loan. Also, with Climb loans, there is no prepayment penalty, so if you pay more than the minimum, you’ll ultimately pay less in interest.