Figure Out Going to College

College & Money

Education Equips You to Make a Living

And Generally Means Taking On Debt

Use the calculators below for estimates of how college will affect what you earn and what you owe – and what your finances might look like after you graduate.

header-marker	What You Might Earn
header-orange	Use the Pull-Down Menus to Select
text	1. The degrees you're pursuing
text	2. Whether your degree is in a high, moderate, or low income field
text	3. Whether you want an average, conservative, or "things go badly" income estimate
header-column		Degree	Income in Field	Estimate
input results-small	You
input results-small	Spouse
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header-column	Projected Income	Initial		After 10 Years *
input results-small	You
input results-small	Spouse
input	Household
text	* Income after 10 years is in today's dollars, and is estimated at 30% more than your initial income, over and above inflation.
header-marker	Debts When You Finish
header-orange	What You Expect You'll Owe & the Terms of the Loans
text	Enter your loans and their interest rates and terms. We'll estimate your total debt & debt burden – what it will cost each year and % of income needed to pay down that debt.
text	Inflation will reduce your "real" (after inflation) debt burden. Your "real (after inflation) income should also rise. So we also estimate your debt burden 10 years after you graduate.
header-column	Debts	interest rate	term (years)	Debt Burden	After 10 Years
input results-small
input results-small
input results-small
input results-small
input results-small
input results-small
input results-small
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header-column	Total Debts			Total Debt Burden
input
input	Debt burden as % of Income
text	(It often makes sense to pay down your high interest loans more quickly. If you do, your debt burden after 10 years would be lower.)
header-marker	After Graduation
header-orange	How Your Finances Might Look
header-column				Initial Income	After 10 Years
text	Your income after you graduate
input results-small	Debt burden
input results-small	Income net of debt burden:
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text	You need to save for retirement, and the earlier you start the better.
input results-small	Figure at least 6 percent of income:
input results-small	Income net of retirement saving:
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text	You'll also pay taxes, both payroll taxes and income taxes.
input results-small	Households with your income typically pay
input results-small	Income net of taxes:
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text	If you will want to buy a house, you also need to save for a downpayment. If you will want to buy a house
input results-small			years after graduation
input results-small	Costing		times your initial income
input results-small	And put		percent down
input results-small	Each year you'd need to save
input results-small	If after you buy your housing costs rise
input results-small	Income net of housing:
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text	If you have (or will have) children, it's a good idea to start saving for their education!
input results-small	To send		children
input results-small	to a
input results-small	Each year you'd need to save
input results-small	Income net of college saving:
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text	This is what you'll have to pay everyday" expenses and buy cars, furniture, appliances, and other things you need and enjoy.
text	It might not be as much as you hoped. But look what you'd have!
text	And consider whether it's better than where you'd be without that education.