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Medical School Loan Calculator-Pay Off Debt or Invest


Discovery Resource # C-05
Resource Topic: Wealth Management
Planning Tools: Calculator
Career Phase: Evaluate & Decide Learn Plan Practicing/Living
Description: Can you afford it? Time to start paying back those loans while trying to determine if you can take on additonal debt for a new car or a place to call home.
Description:
When you borrow money for college and medical school you might not be thinking about your ability to repay the loan once you graduate. Outstanding student loan balances may infringe upon your ability to qualify for a home, auto and other personal loans. Use this tool to help gauge the feasibility of your student loan repayment with your anticipated future income.
Objectives:
  • Assess your financial standing based on your projected salary and loan repayment amonts and schedules.
  • Compare and contrast outputs from this calcuator with the other financial calculators to formulate their financial plans and strategies.