MBA Student Loan Calculator

Our MBA Student Loan Calculator will help you figure out what your budget will look like when you get to business school, what you'll need to borrow, and what that means for your finances after graduation. Get started by telling us where you want to go.

Cost of Attendance By School

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

Funding from Savings, Scholarships, etc.

Equity
2015-2016 ($)
2016-2017 ($)
Total ($)
Total (%)
Reset
Scholarships
Gifts
Total Gifts and Scholarships
Cash-on-Hand
Retirement Account Funds to Use for Education
Total Savings
Total Equity

Funding from Student Loans

Debt
2015-2016 ($)
2016-2017 ($)
Total ($)
Total (%)
Reset
You are eligible to borrow up to
Direct "Stafford" Loan2
Federal Direct PLUS Loan3
Total Federal Loans4
CommonBond5
6.24%
Other Private Loans6
Family Loans7
Total Non-Federal Loans
Total Debt
Your Results
Mix of Sources
Current Mix (Above)
Total Debt
Term
10 Years
Interest Rate (Weighted Avg.)10
Monthly Payment8
Total Payments

Debt to Income Ratio (DTI)

Est. Post Business School Salary
 DTI  0% 

Savings If Funded Through CommonBond vs. Federal Loans:9

(1) All items that make up program’s cost of attendance increase by 5% in 2014-2015 over the published 2013-2014 cost of attendance, and an additional 5% in 2015-2016.

(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. Users of this calculator can adjust these inputs.

(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) "Family Loans" apply a 3.0% interest rate with no origination cost. Users of this calculator can adjust this interest rate.

(8) 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.

(9) 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).

(10) The weighted average interest rate in "Your Results" 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 in this excel workbook 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. The cost of attendance items are an estimate as of January 2014.

Note that there are potential tax consequences involved with withdrawing funds from a retirement account. Consult your tax advisor for guidance.