#Amcas loan calc how to
#Amcas loan calc download

If I stay on the PAYE plan and then file taxes separately if I get married in 5 years (just to model how this would work) I'd pay ~$60k to the DOE over 10 years, and my loan amount would balloon to ~$200k. I've been modeling a few situations to pick the right plan moving forward (just entered repayment). With my projected academia/non-profit income I would never exceed the Standard 10 year repayment plan amount and may not ever even exceed the monthly interest accruing on my $160k debt (ugh) by myself.

I'm planning/hoping on utilizing PSLF for forgiveness in 10 years. Associate looking to own your own practice one day and possibly repaying the debt with a higher income -> REPAYE So in short, long term corporate associate with >500k debt -> PAYE. If you use REPAYE to keep the debt growing more slowly, then there's a more viable path available if you suddenly had a huge income from owning your own practice bc the debt would be smaller. Also, PAYE is better suited to folks who never plan on being a practice owner. The upside is PAYE has a 20 year forgiveness term.įinancially, PAYE seems to come out as having a lower cost when taking into account inflation and the future value of money, however it's a higher risk option.

PAYE is good for getting the debt resolved sooner, but it will always result in higher forgiven balances on which you'll pay tax compared to REPAYE bc PAYE has no interest subsidy. The downside is its a 25 year repayment term until forgiveness. The REPAYE option is good for keeping the balance lower and under control bc it has an interest subsidy. Very valuable to have it all laid out for us, thanks for this tool.It's between REPAYE and PAYE. 'Very helpful to see the breakdown of our loans, and the different monthly payments for each of the different options. 'The calculator was a great tool for me to familiarize myself with the different repayment options prior to attending the counseling session. “It has helped me plan my loan repayment and has removed my need to meet with a specialist about this. What medical students and graduates are saying about the MLOC: Provides a better understanding of student loan debt and the cost of repayment.Shows various repayment scenarios based upon a borrower’s portfolio, household, and residency information.Provides a secure place to enter, upload, track, and store loans.

#Amcas loan calc how to

To see how to upload your Aid Data file and to learn more about the functionality of the MLOC, watch the demo.

Move to the MedLoans ® Calculator tab, answer and submit the questions, to view your repayment options.

If you have private or institutional loans that you want to store in the Organizer, you will need to enter these loans manually.

Within the MedLoans ® Organizer tab, click on the Upload Aid Data and follow the instructions.

Once logged in to your MLOC account, select 'Get Started Now'.

Please DO NOT create another AAMC account.

#Amcas loan calc download

Access your federal loan information at and download your 'My Aid Data' file.