MBA Student Loan Calculator

You got into business school. Now it's time to figure out how you'll pay for your MBA. CommonBond's MBA Student Loan Calculator will help you determine how much school will cost, the amount you'll need to borrow, and how much you can save by borrowing with CommonBond.

Choose a School to Get Started

Your School's Costs:

Update your expected costs including tuition, housing, and school supplies. Be sure to budget for trips with your fellow students and "cushion" in case of emergencies.

Business School Expenses
2015-2016 ($) 1
2016-2017 ($) 1
Total (%)
Reset
Program's Cost of Attendance
Once-in-a-Lifetime Trips
Cushion
Extra costs
Total

Your Savings and Scholarships:

Input your expected funding for school that will come from sources other than student loans.

Funding Source
2015-2016 ($)
2016-2017 ($)
Total (%)
Reset
Scholarships
Savings
Total

Your Student Loans:

Input the amount you'd like to borrow. Enter an amount for CommonBond to decrease the amount in Federal Direct PLUS Loans (which have a higher APR).

Loan Type
Interest Rate
2015-2016 ($)
2016-2017 ($)
Total (%)
Reset
You are eligible to borrow up to
 
Direct "Stafford" Loan2
6.21%
Federal Direct PLUS Loan3
7.21%
Total Federal Loans4
 
CommonBond5
6.24%
Other Private Loans6
Total Private Loans
 
Total
Your Financial Summary

Based on what you entered, here are your anticipated monthly student loan payments. Also, see how much you'll save over the life of your loans if you choose CommonBond over Federal Direct PLUS.

Total Cost of Your MBA
Total Student Loan Debt
Student Loan Term
10 Years
Interest Rate (Weighted Avg.)9
Monthly Payment7
Total Lifetime Cost
Estimated Post-MBA Salary
Debt to Income Ratio (DTI) 
0% 
Savings If Funded Through CommonBond vs. Federal Loans:8


(1) All items that make up a program’s cost of attendance are based off the most recent data available from each school and are assumed to increase by 5% over the prior year's published cost of attendance.

(2) These loans have a 1.072% origination cost. The rate for Direct "Stafford" loans is set by the government on June 1st of every year. The calculation the government uses is 3.6% plus the high-yield on the 10-year treasury rate. The baseline 10-year treasury rate for the 2014-15 academic year is 2.61%. Add that to the 3.6% premium, and you get 6.21%.

(3) These loans have a 4.288% origination cost. The rate for Federal Direct PLUS loans is set by the government on June 1st of every year. The calculation the government uses is 4.6% plus the high-yield on the 10-year treasury rate. The baseline 10-year treasury rate for the 2014-15 academic year is 2.61%. Add that to the 3.6% premium, and you get 7.21%.

(4) In this calculator, by default, the first $20,500 of Federal Loans per year will be treated as a Direct “Stafford” Loan; the balance will be treated as a Direct PLUS Loan.

(5) CommonBond Grad student loans are offered at one fixed rate of 6.24% with a 10 year term and a 2% origination cost.

(6) "Other Private Loans" apply an 8.5% interest rate with no origination cost. Users of this calculator can adjust this interest rate.

(7) These monthly payments are based on a ten-year repayment period. The payments also assume two semesterly disbursements for each year in which you borrow, as well as accruing interest while in school and a 6-month grace period after graduation. At the culmination of the 6-month grace period, the accrued interest is capitalized into the loan balance to calculate the scheduled monthly payment for the 120-month repayment period.

(8) This dollar amount is the total savings you can achieve over the full ten-year repayment term when choosing to fund debt with CommonBond versus the mix of debt options currently selected (based on the inputs you have currently selected).

(9) The weighted average interest rate in "Your Financial Summary" includes the weighted average of the interest rates for Direct "Stafford" Loan, Federal Direct PLUS Loan, CommonBond, Other Private Loans and/or Family Loans.

The views and calculations presented here are in no way meant to serve as professional financial advice, and do not reflect the position and opinions of CommonBond. This calculator is FOR ILLUSTRATIVE PURPOSES ONLY, is not guaranteed to be accurate, and is not guaranteed to be applicable to your actual situation which may vary based upon your specific "sources" (gifts, scholarships, loans, cash, retirement accounts) and "uses" (tuition and fees, living costs, personal discretionary spending). You should confirm individual budget items and overall cost of attendance directly with respective programs.