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    BETA Georgetown Law Prospective Student Financial Planning Calculator  
         
    Calculations below are valid for testing and general information purposes only.  
       
    This calculator may be used as the basis of creating a financial plan for both your law school attendance and post-graduation timeframes. By including the estimated cost of attendance, your estimated financial aid and other support as well as the income from your likely career path, you can see your expected loan balances, payment amount and possible loan forgiveness amount.  
         
    Cost of Attendance, Aid and Other Resources  
    Georgetown Law establishes a "Cost of Attendance" that is used to determine eligibility for loans and other financial aid. The Cost of Attendance includes tuition, rent, transportation, books and other related expenses. When making your financial plan, you should assume that the Cost of Attendance will increase each year. You can alter such annual increase to model different scenarios. As is the case in most financial planning excercises, it is better to overestimate your costs and underestimate your resources when estimates must be used.  
    Cost of Attendance   Year 1   Year 2   Year 3  
             
      annual increase              
                     
                     
    Less              
                 
    Georgetown Law-based scholarships and grants      
                 
    Other scholarships and grants        
                 
    Federal Work-Study        
                 
    My planned annual contribution from savings/earnings      
                 
    Other resources I may have (parents, spouse, etc.)      
                 
                 
    Equals              
                 
    Anticipated Student Loans        
                 
    Student Loans - Amounts Borrowed per Year as well as Annual and Aggregate Balances at Repayment  
    Using the information about your expected costs and resources you supplied above, this section indicates the anticipated loan types and amounts to be borrowed in order to meet your expenses (including federally mandated loan origination fees). It also includes the expected balances for each year's borrowing at the point you enter repayment (six months after graduation) as well as the combined total balance of your anticipated loans.  
    Student Loans Borrowed              
                 
    Federal Direct Stafford Loans        
                 
    Federal Direct Graduate PLUS Loan        
                 
                 
    Expected Student Loan Balance at Repayment            
                   
    Federal Direct Stafford Loans (currently 5.41%)      
                 
    Federal Direct Graduate PLUS Loan (currently 6.41%)      
           
           
    Total Debt at Repayment        
           
    Federal Direct Stafford Loans          
               
    Federal Direct Graduate PLUS Loan          
               
    Total Indebtedness at Repayment          
           
    Desired Career Path and Family Size Information  
    For this section, you should imagine the type of job you would most like to have when you exit school - in essence, why are you coming to Georgetown Law? This information is helpful in determinging the type of repayment options that may be available for you. In particular, students planning to work for a government or non-profit 501(c)(3) employer may find that their out-of-pocket monthly debt load will be very manageable or even non-existent. Your likely family size at repayment is used to determine your payments under the federal Income-Based Repayment (IBR) program. If you do not have specific plans set at this time, use your current family size.  
    Career Path        
           
    Approximate starting income in my preferred career path        
               
    Income growth per year          
               
    Employed by a U.S.-based government or 501(c)(3) non-profit?  
       
               
    If yes, Georgetown Law LRAP Eligible employment?    
       
           
           
    Family Size at Repayment        
           
    Including yourself, spouse and dependent children    
       
           
    Loan Repayment Options  
    This section provides your expected monthly loan payments using the level payment plans (10-year and 25-year) as well as the Income-Based Repayment option based on your estimated income and family information above. In addition, if you indicated that employment was likely eligible for Georgetown Law's LRAP program and/or the federal Public Service Loan Forgiveness program, the expeceted benefits are provided as well.  
    Standard Student Loan Repayment Options      
             
    Approximate total payments (10-year level payments)   monthly    
               
    Approximate total payments (25-year level payments)   monthly    
               
               
    Repayment Information for LRAP/Public Interest/Government Graduates        
               
    Est. Income-Based Loan Payments per Month (Year 1)   (Year 10)    
           
    Estimated LRAP Coverage per Month (Year 1)   (Year 10)    
           
    Estimated Total IBR Payments Over 10 Years    
           
    Estimated Total LRAP Support Over 10 Years    
           
           
    Your Estimated Net Loan Payments per Month (Year 1)   (Year 10)    
           
    Your Estimated Total Loan Payments Over 10 Years    
           
    Loan Amount, Including Interest, Forgiven    
               
       
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