BND calculators can prevent student loan payment surprises

Surprises are great – sometimes. One thing you don’t want to be surprised by is your student loan payment. While you may think it’s better to sign the paperwork and worry about it later, you may not like what you find out.

It’s better to be confident and educated when making student loan decisions. BND has created a series of calculators to help estimate the commitments you are making when you take out student loans.

• Be Confident with your student loan decisions
  Research your starting salary and insert it in the calculator to avoid too much student loan debt.
• Budget calculator
  Add up your income and subtract your expenses with this helpful tool to make sure you can afford your student loan payments someday. It’s also a good tool to use as you work on your budget during school.
• Interest Accrual calculator
  If you have difficulty making payments, you may be able to work with your lender and postpone the payments. However, many times you will accrue interest during this time, increasing the total loan amount to repay. This calculator will show you how much it will increase.
• Credit card calculator
  Input your credit card balance and figure the monthly payments and length of time you’ll need to repay.
• DEAL One Student Loan calculator
  Input the total amount of student loans you have and the interest rate to see if refinancing with DEAL One would be beneficial to you.
• DEAL Student Loan calculator
  You can input the amount you want to borrow and then calculate the length of time and amount you’ll be repaying monthly.
• Debt-to-Salary calculator
  This calculator allows you to input the amount you have borrowed and may need to borrow in the future, and shows the estimated annual income you need to support that level of debt assuming student loan payments should not be more than eight percent of your total income.
• Out-of-State Consolidation calculator
  If you are not a North Dakota resident but have a DEAL Student Loan, you may use this calculator to see if refinancing your private and DEAL Student Loans with the DEAL Consolidation Loan is beneficial to you.
• Repayment calculator
  Input your principal, interest rate and years for repayment to determine your monthly payments.
• Salary-to-Debt calculator
  You can input your expected income, the interest rate of your student loans and repayment period and determine the maximum student loan amount you should commit to.
• Savings calculator
  This calculator will allow you to see how much money you will have in savings over a designated period of time.

These calculators only provide estimates; you should work with your lender to assess your situation.