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OfficerSpoon
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Schools: HBS '27 (D) Stanford '27 (D) Columbia '27 (WL) Booth '27 (D) Kellog '27 (D) Wharton '27 (D) Marshall '27 (A$$$) MIT '27 (D) Anderson '27 (D)
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Schools: HBS '27 (D) Stanford '27 (D) Columbia '27 (WL) Booth '27 (D) Kellog '27 (D) Wharton '27 (D) Marshall '27 (A$$$) MIT '27 (D) Anderson '27 (D)
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MBA Payback Calculator 05 Feb 2025, 22:46
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MBA Loan Payback Calculator
How much can you borrow and how fast can you pay it off?

Hope you find this calculator useful - if you have any suggestions or ideas, let me know how to improve it. I am also planning to create a few more tools such as MBA ROI and a few others.
P.S. Give this page about 3-5 seconds to load the calculator.




Reminder: GMAT Club offers up to $500 Rebate on a Prodigy Loan.
If you have to borrow Prodigy, make sure you get the Rebate from GMAT Club!


How to use the Payback Calculator:
  1. Enter the full Cost of Attendance (that's tuition + living expenses). These vary and I would add another $10K at least on top of whatever the school gives as a guidance because that number is the bare bones. There is a motivation to provide as low number as possible to make the program look attractive. This additional shortfall can also be addressed by the summer internship, so not setting any extra is also OK.
  2. Financial Aid amount (scholarship, fellowship, any other aid you expect)
  3. Family or personal contribution - this will determine your shortfall that has to be financed by a student loan.
  4. Expected Salary - this can get tricky depending on when you get a job, but you should expect 3 months after graduation (hopefully) to start and that would be the start of your loan payback time. If you are looking for average salaries, you can find them in the Business School Hub
  5. Percentage of Salary towards Loan - this will determine how aggressively you want to pay it off - are you trying to pay it off ASAP or perhaps put away an emergency fund (a really good idea) - here you can decide what portion of your income goes towards payback - please read the small text!
  6. Interest Rate - this is pretty self-explanatory but you may be surprised how small changes may make a big difference


Let me know if any suggestions and good luck everyone with your apps!
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GMAT 1: 750 Q49 V42
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MBA Payback Calculator 06 Feb 2025, 10:46
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Thank you for getting it done! I think having an MBA ROI calculator would be awesome. Just have to decide on the extent of the complexity đź‘Ť