This free loan calculator gives you a handy way to determine in a snap approximately how long it will take you to pay off your personal loans, credit cards and student loans.

This is good to know, since you may opt for a higher monthly payment to pay off your personal loan quicker, or it might be better to stretch out the number of payments for as long as possible to match your regular monthly income.

You may also use it if you want to set up monthly payments for a friend or family member who needs to borrow a set amount for a short period of time, say one year or so.

Calculating the number of months to pay off a high-interest credit card balance is also a useful feature of this loan calculator. Simply enter in your latest total credit card balance due, enter in the interest rate shown on your credit card statement, and type in the number of months you want to get this debt paid off.

As an example, if you enter in $5,000 at 18.99%, you will find that it will take you 24 monthly payments of $252.02 to get rid of this debt, for a final principal and interest total being $6,048.48.

You can edit the number of months or years that you will be paying back this loan, and you can also do a quick 'what if' calculation to determine your new pay off total if you combine federal and private student loans with the new Obama student loan consolidation program.

We have a listing of additional loan calculators you can find for free online below...

The important thing to remember -- getting loan calculator results that match your own financial situation and your future goals -- is to spend time entering different alternative loan repayment options into the calculator input fields and track the differences.

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