Debt Calculator:

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DeeCee
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Re: Debt Calculator:

Postby DeeCee » Sat Feb 19, 2011 6:21 pm

Gatriel wrote:
fatduck wrote:nice spreadsheet

you might want to calculate the present value of the loans, though? that way people could numerically quantify their "debt aversion" via discount rate.


That is a good idea. When I built the spreadsheet I thought about that, decided not to do it, but not I forgot why. I'll add that in later today.


Where is this spreadsheet?

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AreJay711
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Re: Debt Calculator:

Postby AreJay711 » Sat Feb 19, 2011 6:27 pm

Gatriel wrote:
fatduck wrote:nice spreadsheet

you might want to calculate the present value of the loans, though? that way people could numerically quantify their "debt aversion" via discount rate.


That is a good idea. When I built the spreadsheet I thought about that, decided not to do it, but not I forgot why. I'll add that in later today.

It would be hard to properly discount it since people can have different discount rates. For wealth maximization of a firm level you can assume the interest rate but on an individual level that isn't true and are facing multiple interest rates.

I like the calculator though even if it is kinda sketch for a non-regular to download it instead of piecing the info together from online calculators.

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Gatriel
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Re: Debt Calculator:

Postby Gatriel » Sat Feb 19, 2011 7:27 pm

DeeCee wrote:
Gatriel wrote:
fatduck wrote:nice spreadsheet

you might want to calculate the present value of the loans, though? that way people could numerically quantify their "debt aversion" via discount rate.


That is a good idea. When I built the spreadsheet I thought about that, decided not to do it, but not I forgot why. I'll add that in later today.


Where is this spreadsheet?


Download links in the original post.

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Gatriel
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Re: Debt Calculator:

Postby Gatriel » Sat Feb 19, 2011 7:28 pm

AreJay711 wrote:It would be hard to properly discount it since people can have different discount rates. For wealth maximization of a firm level you can assume the interest rate but on an individual level that isn't true and are facing multiple interest rates.

I like the calculator though even if it is kinda sketch for a non-regular to download it instead of piecing the info together from online calculators.


I think this is why I didn't include it. What discount rate could one use, prudently?

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fatduck
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Re: Debt Calculator:

Postby fatduck » Sat Feb 19, 2011 7:40 pm

Gatriel wrote:
AreJay711 wrote:It would be hard to properly discount it since people can have different discount rates. For wealth maximization of a firm level you can assume the interest rate but on an individual level that isn't true and are facing multiple interest rates.

I like the calculator though even if it is kinda sketch for a non-regular to download it instead of piecing the info together from online calculators.


I think this is why I didn't include it. What discount rate could one use, prudently?


for most people it's probably not necessary. at the most basic level you could use the rate of inflation. for someone who was doing a more complex comparative analysis (say, between law and an alternate career path), they might appreciate the ability to modify the rate to suit their needs.

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Gatriel
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Re: Debt Calculator:

Postby Gatriel » Sat Feb 19, 2011 7:45 pm

fatduck wrote:[

for most people it's probably not necessary. at the most basic level you could use the rate of inflation. for someone who was doing a more complex comparative analysis (say, between law and an alternate career path), they might appreciate the ability to modify the rate to suit their needs.


One could do it at the rate of inflation, however that assumes a very very low to nill interest rate. I'm outlining right now. I'll do it tonight after dinner.

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pilchc
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Re: Debt Calculator:

Postby pilchc » Tue Mar 01, 2011 3:17 am

Thanks OP.
This saved me a lot of time.

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Gatriel
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Re: Debt Calculator:

Postby Gatriel » Tue Mar 01, 2011 11:09 pm

Yeah you're welcome dude.

rundoxierun
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Re: Debt Calculator:

Postby rundoxierun » Tue Mar 01, 2011 11:23 pm

sticker at a top school comes to 10 yr. repayment plan of about 2500/month. lulz.

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Gatriel
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Re: Debt Calculator:

Postby Gatriel » Wed Mar 02, 2011 4:02 am

Yeah, lets hope you're pulling down $3500 a week so its NBD.

005618502
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Re: Debt Calculator:

Postby 005618502 » Fri Apr 15, 2011 1:52 am

What should I put for interest rate if I plan to take out loans for full COA?

maglialoro
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Re: Debt Calculator:

Postby maglialoro » Fri Apr 15, 2011 11:36 am

.
Last edited by maglialoro on Thu Jul 19, 2012 4:45 pm, edited 1 time in total.

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pilchc
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Re: Debt Calculator:

Postby pilchc » Tue Mar 13, 2012 11:35 pm

This spreadsheet is awesome! But...
I changed computers. I am trying to download this calculator again and the link keeps sending me to a "free file hosting" site. I cannot find the spreadsheet. Any suggestions?

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YankeeFan2
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Re: Debt Calculator:

Postby YankeeFan2 » Wed Mar 14, 2012 3:44 pm

pilchc wrote:This spreadsheet is awesome! But...
I changed computers. I am trying to download this calculator again and the link keeps sending me to a "free file hosting" site. I cannot find the spreadsheet. Any suggestions?


Same here. ?????

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20130312
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Re: Debt Calculator:

Postby 20130312 » Wed Mar 14, 2012 3:54 pm

Wait, does interest compound on law school loans? My UG loans only accrue interest on the principal.

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Gail
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Re: Debt Calculator:

Postby Gail » Wed Mar 14, 2012 4:07 pm

InGoodFaith wrote:Wait, does interest compound on law school loans? My UG loans only accrue interest on the principal.


I'm going to take a guess and say that the unsubsidized will. Subsidized will not accrue interest. So subtract the amount from subsidized and then add after 3 years.

I may be wrong with that though. I'm one of those that doesn't know how this works.

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Bronck
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Re: Debt Calculator:

Postby Bronck » Wed Mar 14, 2012 4:09 pm

Gail wrote:
InGoodFaith wrote:Wait, does interest compound on law school loans? My UG loans only accrue interest on the principal.


I'm going to take a guess and say that the unsubsidized will. Subsidized will not accrue interest. So subtract the amount from subsidized and then add after 3 years.

I may be wrong with that though. I'm one of those that doesn't know how this works.


We don't got no subsidized loans no more. Congress got rid of em.

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Gail
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Re: Debt Calculator:

Postby Gail » Wed Mar 14, 2012 4:11 pm

Bronck wrote:
Gail wrote:
InGoodFaith wrote:Wait, does interest compound on law school loans? My UG loans only accrue interest on the principal.


I'm going to take a guess and say that the unsubsidized will. Subsidized will not accrue interest. So subtract the amount from subsidized and then add after 3 years.

I may be wrong with that though. I'm one of those that doesn't know how this works.


We don't got no subsidized loans no more. Congress got rid of em.


Not even the loans from UG? The ones that you defer while going to LS? That would seriously suck.

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Bronck
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Re: Debt Calculator:

Postby Bronck » Wed Mar 14, 2012 4:12 pm

Gail wrote:
Bronck wrote:
Gail wrote:
InGoodFaith wrote:Wait, does interest compound on law school loans? My UG loans only accrue interest on the principal.


I'm going to take a guess and say that the unsubsidized will. Subsidized will not accrue interest. So subtract the amount from subsidized and then add after 3 years.

I may be wrong with that though. I'm one of those that doesn't know how this works.


We don't got no subsidized loans no more. Congress got rid of em.


Not even the loans from UG?


Oh well, if your UG loans are subsidized, then they'll remain subsidized. But all new loans will be unsubsidized.

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Mr. Pancakes
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Re: Debt Calculator:

Postby Mr. Pancakes » Wed Mar 14, 2012 4:15 pm

that link didn't work, brah.

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20130312
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Re: Debt Calculator:

Postby 20130312 » Wed Mar 14, 2012 4:38 pm

Mr. Pancakes wrote:that link didn't work, brah.


It's two years old, brah.

Also, neither my subbed nor unsubbed UG loans have compound interest. Hell, even my private loan doesn't compound interest.

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izy223
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Re: Debt Calculator:

Postby izy223 » Wed Mar 14, 2012 4:58 pm

someone want to repost a link for us who didnt get there early enough

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Tiago Splitter
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Re: Debt Calculator:

Postby Tiago Splitter » Wed Mar 14, 2012 5:00 pm

Per vanwinkle in another thread that I can't find, interest does not compound while under IBR. So that 200K debt that you can't service will only be 350K instead of 400K when the tax bomb hits 20 years down the line. Everybody breathe a sigh of relief.

005618502
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Re: Debt Calculator:

Postby 005618502 » Wed Mar 14, 2012 5:06 pm

Gail wrote:
Bronck wrote:
Gail wrote:
InGoodFaith wrote:Wait, does interest compound on law school loans? My UG loans only accrue interest on the principal.


I'm going to take a guess and say that the unsubsidized will. Subsidized will not accrue interest. So subtract the amount from subsidized and then add after 3 years.

I may be wrong with that though. I'm one of those that doesn't know how this works.


We don't got no subsidized loans no more. Congress got rid of em.


Not even the loans from UG? The ones that you defer while going to LS? That would seriously suck.


I didnt know how this worked either, especially since I took a year off and am now paying on my loans. I just called, they said that once you defer payment due to being a full time student again, if the undergrad loans were subsidized they will once again have the interest payed by the gov while you are in law school.

Great news!

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Bronck
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Re: Debt Calculator:

Postby Bronck » Wed Mar 14, 2012 5:15 pm

Tiago Splitter wrote:Per vanwinkle in another thread that I can't find, interest does not compound while under IBR. So that 200K debt that you can't service will only be 350K instead of 400K when the tax bomb hits 20 years down the line. Everybody breathe a sigh of relief.


Oh man, what a treat.




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