Debt basics
Annual Percentage Rate (APR)
APR is a yearly measure of borrowing cost expressed as a percentage. EastStar uses the APR you enter to estimate interest, but its projection does not reproduce every lender calculation.
EastStar Learn
Make sense of the numbers.
Clear, practical explanations of debt, savings, payoff planning, and the estimates shown in EastStar.
13 articles
Planning tools
Put what you learn into action.
Compare payoff strategies with the debt payoff calculator, or choose a goal date with the payoff by date calculator.
Debt basics
Principal
Principal is the amount borrowed or the portion of a debt balance that has not yet been repaid. Reducing principal usually lowers the amount on which future interest is calculated.
Debt basics
Compound Interest
Compound interest means interest is calculated on principal and previously accumulated interest. Its effect depends on the rate, balance, time, payment activity, and compounding frequency.
Debt basics
Minimum Payment
A minimum payment is the least amount an account requires by its due date. Paying only that amount can keep an account current while still producing a long payoff period and substantial interest.
Debt basics
Recurring Expenses
Recurring expenses are costs that repeat on a regular schedule. Recording them consistently helps EastStar estimate how much take-home income remains after expected obligations.
Payoff planning
Extra Payments
An extra payment is money paid above the required amount. When it reduces principal as intended, it can shorten repayment and lower future interest, subject to lender rules.
Payoff planning
Debt Avalanche
The debt avalanche directs extra money to the highest-rate debt while minimums continue on all debts. It is designed to reduce the most expensive debt first.
Payoff planning
Debt-Free Date
A debt-free date is the projected month when modeled debt balances reach zero. It is a planning estimate that moves when balances, rates, payments, or assumptions change.
Payoff planning
Amortization Schedule
An amortization schedule shows how scheduled loan payments are divided between principal and interest over time. It also tracks the estimated balance remaining after each payment.
Debt basics
APR vs. APY
APR generally describes the annual cost of borrowing, while APY describes annual earnings on a deposit after compounding. The two percentages answer different questions and should not be used interchangeably.
Savings basics
Annual Percentage Yield (APY)
APY estimates the annual interest earned on a deposit account after accounting for compounding. Actual earnings can differ when rates, balances, fees, or account activity change.
Savings basics
Savings Goals
A savings goal links one tracked account, an amount to save, and a target date to estimate a monthly contribution and a projected completion date.
EastStar metrics
Scenario Comparison
An EastStar scenario models a hypothetical payoff change or savings target without changing the saved profile. Its projection illustrates entered assumptions rather than promising an outcome.
No matching articles
Try a broader search or choose a different category.