Amortization paying a loan off in fixed installments where each payment's interest/principal mix shifts as the balance falls. Where it's taught Loans & Amortization Try it with a calculator Loan Amortization Calculator Appears in 10 other lessons Credit Cards & the Minimum-Payment TrapDebt Payoff Strategies: Avalanche vs SnowballGood Debt vs Bad Debt: It's Not the Loan, It's What You BoughtEmergency Fund or Pay Off Debt First?Balance Transfer: The 0%-APR Card That Becomes a Trap If You Miss the DeadlineMortgage Points: Buying Down Your Rate Is a Break-EvenAdjustable-Rate Mortgages: The Teaser That ResetsRefinancing a Loan: When Does It Actually Pay Off?Paying for College: 529 Savings vs the Cost of Student DebtStudent Loans: Standard vs Income-Driven Repayment (and Forgiveness) Related terms Extra principal paymentInterestPrincipalTerm