For each loan, you can expect the loan balance to decrease gradually over time as you make payments. Only the principal component of your payment decreases the loan balance; the interest is an expense that goes to the financial institution that gave you the loan. Your loan balance may disappear altogether when you make large balloon payments or if you pay off a loan entirely when you sell the associated asset (such as when you sell a house and pay off the mortgage with the proceeds).
You can enter loans and other liabilities on the Loans & debt page in the Lifetime Planner. To view a forecast chart, see the related topics below.