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.

Find out how much you should borrow

    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:

    Split the amount you'd like to borrow among the four sources below. Please note that you forego certain federal loan program benefits if you use private student loans.

    Loan Type
    Interest Rate
    2015-2016 ($)
    2016-2017 ($)
    Total (%)
    Reset
    You are eligible to borrow up to
     
    CommonBond2
    5.59%
    Direct "Stafford" Loan3
    5.84%
    Federal Direct PLUS Loan4
    6.84%
    Other Private Loans5
    Total
    Your Financial Summary

    Based on what you entered, here are your anticipated monthly student loan payments.

    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 Entire MBA Funded Through CommonBond


    (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) In this calculator, by default, the loans per year will be treated as CommonBond MBA Student Loans. CommonBond MBA Student Loans are offered at one fixed rate of 5.59% with a 10-year term and a 2% origination cost.

    (3) These loans have a 1.073% 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 2015-16 academic year is 2.24%. Add that to the 3.6% premium, and you get 5.84%.

    (4) These loans have a 4.292% 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 2015-16 academic year is 2.24%. Add that to the 4.6% premium, and you get 6.84%.

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

    (6) 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.

    (7) 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).

    (8) 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. Please note that you forego certain federal loan program benefits if you use private student 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.