Finology Software has made a substantial leap forward with the introduction of an enhanced feature within their Student Loan Repayment Planning Calculator: Scenarios.
Today marks an exciting milestone as Finology Software unveils the Scenarios enhancement, designed to revolutionize the way users approach their student loan repayment strategies. This latest addition empowers individuals to effortlessly save and manage diverse income schedules within the calculator, offering a versatile toolset to navigate through different client proforma income Scenarios.
The beauty of Scenarios lies in its simplicity. Users can seamlessly set and modify different income schedules directly within the calculator interface. Whether it’s adjusting income increase rates, escalating salary increments per client needs, or factoring in spousal income through modifying the tax filing status. The flexibility of Scenarios streamlines the process of planning and visualizing multiple repayment strategies.
Paired alongside Scenarios, is Finology Software’s Versions, that delivers ways to save and set repayment plans, loan types, balances, and interest rates. This functionality serves as a tailored repository, allowing users to store and switch between various loan configurations effortlessly. With Versions, exploring different loan scenarios becomes a breeze, enabling advisors to assess the impact for their clients. This makes showcasing a prospective “double consolidation” simple for Parent PLUS loans.
The significance of this enhancement extends beyond a mere software update; it represents a commitment to empowering advisors to take care of clients and reduce their exposure to their student debt. Whether aiming to accelerate debt repayment, optimize payment schedules, or explore federal IDR simulations, Finology Software’s Scenarios and Versions features offer a robust platform for informed decision-making.
