Important: This calculator estimates interest that *may* accrue if a scheduled loan payment is delayed. "Grace Period" policies vary significantly:

• Many grace periods (e.g., 10-15 days) are primarily to avoid a *late fee* if the full scheduled payment is made within that window, and may not result in additional interest for that specific payment beyond what was already part of its calculation.
• If a grace period involves truly *skipping* or substantially delaying a payment such that the principal isn't reduced as scheduled, interest will typically continue to accrue on the outstanding balance. This tool estimates that accrued interest.

Always confirm your lender's specific policies on grace periods, interest accrual, capitalization, and any fees. This tool does not account for late fees. This is not financial advice.