OriginalLoanSummary
Payitoff API: OriginalLoanSummary
Schema
Understand
total_paid
vstotal_cost
total_paid
is the sum of all monthly payments a borrower will make on a loan's current Repayment Plan over its lifetime.With IncomeDriven Repayment plans, there is sometimes a "tax bomb" at the end of their repayment term—any outstanding balance is forgiven, but treated as taxable income. Thus,
total_cost
provides the sum oftotal_paid
plus the taxes owed on that forgiven amount (which is calculated and provided in theamount_forgiven
andestimated_tax_liability
properties). In other words,total_cost
is the bottom line amount a borrower will pay to dispense of their loan on its current Repayment Plan.
Schema Definition
Property  Type  Format  Description 



 Total amount of outstanding 


 Estimated tax bomb, or the amount 


 The amount of the final monthly payment. 


 The standard monthly payment over the course of the repayment term. 


 Total number of payments that will be made over the course of the repayment term. 


 Total unpaid interest. 


 Total unpaid principal. 


 The sum of 


 The sum of all monthly payments a 
Example
{
"amount_forgiven": 0.00,
"estimated_tax_liability": 0.00,
"final_monthly_payment": 0.00,
"monthly_payment": 0.00,
"number_of_payments": 0,
"outstanding_interest": 0.00,
"outstanding_principal": 0.00,
"total_cost": 0.00,
"total_paid": 0.00
}
Updated 12 months ago