I have a student loan that I have consolidated with nelnet at 3.125% I'm having problems calculating the details of the loan (using an app called loan calc- better suggestions, freeware please?)
How is the interest calculated on a student loan- is "effective", "compounded" or "nominal"? Once I choose one of those options it asks me if the time period it is compounding from continuous to annually. That one really stumps me. Any help?