A | B | C | D | E | F | |
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1 | Cost Optimal Loan Selection 2023 - 2024 rates | |||||
2 | IMPORTANT: Make a copy of the calculator and only modify the orange cells. | |||||
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4 | Inputs | |||||
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6 | Loan Amount | $65,000 | ||||
7 | Deferment Period | 30 | <-- the months left in school + 6 | |||
8 | Loan Term (in months) | 120 | ||||
9 | Juno Negotiated Deal or other Private rate | 5.00% | ||||
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12 | Comparison | |||||
13 | Direct Unsubsidized Loan | Grad PLUS loan | Juno Negotiated Deal or other Private | |||
14 | Loan Amount | $65,000 | $65,000 | $65,000 | ||
15 | Interest Rate | 7.05% | 8.05% | 5.00% | ||
16 | Origination Fee (percent) | 1.08% | 4.23% | 0.00% | ||
17 | Origination Fee (dollars) | $702 | $2,750 | $0 | ||
18 | Starting Principal | $65,702 | $67,750 | $65,000 | ||
19 | Deferment Period | 30.00 | 30.00 | 30.00 | ||
20 | Interest during Deferment | $11,580 | $13,635 | $8,125 | ||
21 | Principal after Deferment | $77,282 | $81,384 | $73,125 | ||
22 | Loan Term | 120.00 | 120.00 | 120.00 | ||
23 | Monthly Payment | $899 | $990 | $776 | ||
24 | Total Payments | $107,916 | $118,748 | $93,072 | ||
25 | Total Cost | $42,916 | $53,748 | $28,072 | ||
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27 | Results (Optimal Loan Breakdown) | |||||
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29 | Is Unsubsidized more affordable than Private? | No | ||||
30 | Is Grad Plus more affordable than Private? | No | ||||
31 | ||||||
32 | Amount from Federal Unsubsidized | $0 | ||||
33 | Amount from Grad Plus | $0 | ||||
34 | Amount from Private Student Loan | $65,000 | ||||
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