1. Module Number 7 Repayment Calculators
Paul S. Garrard
Founder and President, PGPresents, LLC
Independent Student Loan Consulting
Spring 2019
2019 PGPresents, LLC - All Rights Reserved

2. Calculators of note www.FINAID.org www.StudentLoans.gov
Simple “quick and dirty” calculator
Repayment Estimator, great for “what if” scenarios *
Medloans Organizer and Calculator
Preferred calculator for medical students, residents, and fellows
* also takes you to MLOC

3. Assumptions For time plans, loans held to term
For income plans, no change in marital or tax filing status, or family size
No aggressive payments and no interruption of payments
For income plans, a set annual income increase*
* Percentage should be referenced in HELP section

4. Reminders Loan servicer determines amounts*
IDR calculations are a set federal formula, used by all calculators
You must add prospective borrowing after NSLDS upload for accuracy
* Look for disclosure statement from loan servicer and keep this

5.
Quick and dirty estimates for time driven repayment plans
Doesn’t accommodate different rates and accrued interest
Simple to use for quick estimates of time driven plans (10 year and 25 year plans)
Go to Calculators, then Loan Calculator
Enter balance, interest rate, and term, leave everything else alone

6. www.StudentLoans.gov Repayment Estimator The “what if …” calculator
What if I get married, and what if I file jointly versus separately?
What is my spouse has federal student loans?
What if my income jumps up, how high can my payments go?
What if I have children, what happens to my payments?

7. Repayment Estimator
Does not take into account residency and fellowship training
Do not use for total repayment and forgiveness estimates with IDRs*
Do not use for PSLF estimates
Look only at the first payment in the payment range for income plans
* Income Driven Repayment plans like PAYE and REPAYE

8. AAMC MLOC* Medloans Organizer and Calculator Two sections Organizer
* Small fee for non-allopathic users

9. AAMC MLOC* Medloans Organizer Keep your borrowing history here
Upload federal borrowing from NSLDS at NSLDS.ed.gov
Manually input prospective borrowing unless all loans disbursed
Manually input consolidation loan if you are planning to consolidate
* Small fee for non-allopathic users

10. AAMC MLOC* Medloans Calculator
Customize repayment based on GME and career plans
Input different scenarios based on residency length and project salary
See estimated repayment and potential forgiveness amounts under all income plans
* Small fee for non-allopathic users

11. Takeaways
Calculators help prepare you for what is coming after you graduate
Always note assumptions used in calculations
Repayment amounts come from your loan servicer
Small fee for AAMC MLOC

12. PGPresents, LLC Independent Student Loan Consulting www.PGPresents.com
END OF MODULE 7
PGPresents, LLC
Independent Student Loan Consulting
2019 PGPresents, LLC - All Rights Reserved